GLOBAL MARKETS ARE IN CHAOS AFTER UK VOTES TO LEAVE EU
The UK has voted to leave the EU, according to projections from multiple outlets including iTV, the BBC, and SkyNews.
In an absolutely stunning result, this means the UK will now likely begin the process of leaving the European Union, the first member of the bloc to leave since its formation in 1993.
Following this result, global financial markets are in complete chaos with some of the most stunning moves you'll ever see taking place tonight.
Charts below are as of roughly midnight in New York, or 5:00 a.m. in London.
Headlining the proceedings is a mind-blowing drop in the British pound, which is down over 9% against the US dollar to around $1.34, a 31-year low.
investing.com
The pound is also getting crushed against the Japanese yen - which has seen a monster rally on Thursday - with the pound losing 14% against the yen.
investing.com
In global stocks, US futures are down sharply with Dow futures off almost 600 points, S&P 500 futures down 91 points, or 4.3%, and Nasdaq futures down about 200 points.
investing.com
London FTSE futures are down 8.9%.
investing.com
Futures for Germany's DAX are off more than 8%.
investing.com
US Treasury bonds are also catching a massive bid with the 10-year Treasury yield falling to as low as 1.48% (bond prices rise when yields fall).
Next Story
Global stocks rally even as Sensex, Nifty fall sharply on Friday
In second consecutive week of decline, forex kitty drops $2.28 bn to $640.33 bn
SBI Life Q4 profit rises 4% to ₹811 crore
IMD predicts severe heatwave conditions over East, South Peninsular India for next five days
COVID lockdown-related school disruptions will continue to worsen students’ exam results into the 2030s: study
