Friday's global equity loss worst ever

Money On Hook

The $2.08tril wiped off global equity markets on Friday after Britain voted to leave the European Union was the biggest daily loss ever, trumping the Lehman Brothers bankruptcy during the 2008 financial crisis and the Black Monday stock market crash of 1987, according to Standard & Poor's Dow Jones Indices.

Reuters reports that global markets skidded following the unexpected result from the June 23 referendum, in which Britons voted to withdraw from the EU by a 52% to 48% margin.

Markets in mainland Europe were hit the worst, with Milan and Madrid each down more than 12% for their biggest losses ever. Britain's benchmark FTSE 100 was down nearly 9% at one point on Friday, but rallied to close down 3.15%.

The route started in Asia, with the Nikkei down 7.9%, and carried over into Wall Street as the S&P 500 fell 3.6%.

To access the complete Reuters article hit the link below:

Post-Brexit global equity loss of over $2 trillion worst ever - S&P

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