webfact Posted June 24, 2016 Share Posted June 24, 2016 British vote on leaving the EU rocks world financial marketsYOUKYUNG LEE, AP Business WriterSEOUL, South Korea (AP) — World financial markets were rocked Friday by Britain's vote to leave the European Union, with stock markets and oil prices crashing and the pound hitting its lowest level in three decades.The uncharted, unexpected path of a European Union without Britain sparked the sell-offs, with more jitters expected as global markets try to digest the shock result.Tokyo stocks plummeted nearly 8 percent, their biggest fall since 2008, while South Korea's Kospi tumbled about 3 percent.Crude oil prices and U.S. futures also took a big hit, and the British pound plummeted more than 10 percent in six hours while the yen surged about 3 percent to the U.S. dollar as investors seeking safety snapped up the Japanese currency.By early afternoon in Asia, a tally by the BBC showed Britain had voted to leave the 28-nation European Union by about a 52 percent to 48 percent margin.Japan's Nikkei 225 plummeted 7.6 percent to 15,002.84 while South Korea's Kospi sank 3.8 percent to 1,911.13. Hong Kong's Hang Seng index tumbled 4.7 percent to 19,894.12 and Australia's S&P/ASX 200 fell 3.6 percent to 5,093.40. Stocks in Shanghai, Taiwan, Sydney and Southeast Asian countries were sharply lower.On Thursday, Wall Street finished with rallies as pre-poll forecasts showed that Britain would keep the EU membership. Asian stock markets opened the day higher but the mood turned sour as results started to show that the "leave" vote would win. As the results increasingly pointed to the EU exit, investors shunned stocks and other risky assets.U.S. futures took a dive. Dow futures fell 3.9 percent and S&P futures nosedived 5.1 percent.The results sent the pound on a wild ride. It rose to its highest point for the year of $1.50 before tumbling more than 10 percent to a low of $1.3303, its lowest level in 31 years.In other currencies, the dollar fell to 101.32 yen from 104.80 yen while the euro weakened to $1.098 from $1.132.Benchmark U.S. crude plummeted 6.2 percent, or $3.12, to $47.03 per barrel in New York. Brent Crude, the benchmark for international oil price, fell 5.8 percent, or $2.97, to $47.94 per barrel in London. -- (c) Associated Press 2016-06-24 Link to comment Share on other sites More sharing options...
thai3 Posted June 24, 2016 Share Posted June 24, 2016 Britain leads the way, at one time all wanted to join, now they will be wanting to leave if they have any sense. Link to comment Share on other sites More sharing options...
BuaBS Posted June 24, 2016 Share Posted June 24, 2016 Beautiful !! I hope it's the beginning of a major market crash in which stock & bonds holders ( especially banks ) get wiped out. But it won't of course , central banks are standing ready to pump in the free money. Link to comment Share on other sites More sharing options...
abrahamzvi Posted June 24, 2016 Share Posted June 24, 2016 Beautiful !! I hope it's the beginning of a major market crash in which stock & bonds holders ( especially banks ) get wiped out. But it won't of course , central banks are standing ready to pump in the free money. I really can't understand what you are so happy about. You do realize that a market crash will damage or ruin a lot of people, not only the banks..... Link to comment Share on other sites More sharing options...
JetsetBkk Posted June 24, 2016 Share Posted June 24, 2016 Take it easy, wait a few days and all will be back to normal. Link to comment Share on other sites More sharing options...
Alive Posted June 24, 2016 Share Posted June 24, 2016 Rock on! Link to comment Share on other sites More sharing options...
Berkshire Posted June 24, 2016 Share Posted June 24, 2016 So the pound weakened against the dollar, as did the Euro, but the dollar weakened against the yen. The yen must be kicking-ass against all currencies, which is not necessarily good news for Japanese exports. Wonder how low the US markets will go tomorrow? Link to comment Share on other sites More sharing options...
Alive Posted June 24, 2016 Share Posted June 24, 2016 (edited) Japan was down over 7% today at close. No near 8%. CNN Link to some major markets... http://money.cnn.com/data/world_markets/americas/ Edited June 24, 2016 by Alive Link to comment Share on other sites More sharing options...
JetsetBkk Posted June 24, 2016 Share Posted June 24, 2016 I wonder how much Soros made this week? He issued a warning earlier urging 'Remain' or there will be dire consequences, the pound goes up, he sells pounds. The result comes in, the pound goes down, he buys it all back plus more. Easy money. Link to comment Share on other sites More sharing options...
mcfish Posted June 24, 2016 Share Posted June 24, 2016 Sol a lot of people chose stocks over bricks and mortar hear in Thailand. So Glad Im not holding stock however Im tempted to go short and ride this mother down to the ground Link to comment Share on other sites More sharing options...
jeffconnors Posted June 24, 2016 Share Posted June 24, 2016 Use the dip as a buying opportunity. Stocks are on sale. Link to comment Share on other sites More sharing options...
mcfish Posted June 24, 2016 Share Posted June 24, 2016 (edited) Use the dip as a buying opportunity. Stocks are on sale. Catching falling knives is a mugs game. Wait, this isnt some quick dip . Most analysts predicting a Catastrophe so best see which way its going to break first IMO. The last global meltdown took a long long time to bottom out Edited June 24, 2016 by mcfish Link to comment Share on other sites More sharing options...
tomacht8 Posted June 24, 2016 Share Posted June 24, 2016 I think the english pubs must be overcrowded now everywhere, celebrating their referendum victory. Link to comment Share on other sites More sharing options...
personchester Posted June 24, 2016 Share Posted June 24, 2016 The British people are not entirely happy about the exit procedure from the E.U. because 52 % of the people applied for the exit, and the other 48 % of the people applied to stay into Europe and avoid the exit procedure. There might perhaps initially some problems in the UK about Commercial and Financial matters but eventually those items will be sorted. But Scotland did not like the EU exit and will ask the people again to decide whether they will leave outside England and enter again into EU. Link to comment Share on other sites More sharing options...
HerbalEd Posted June 24, 2016 Share Posted June 24, 2016 Beautiful !! I hope it's the beginning of a major market crash in which stock & bonds holders ( especially banks ) get wiped out. But it won't of course , central banks are standing ready to pump in the free money. So are you just mouthing off, or do you sincerely hope the world will crash into a deep depression? Link to comment Share on other sites More sharing options...
Wilsonandson Posted June 24, 2016 Share Posted June 24, 2016 I think the english pubs must be overcrowded now everywhere, celebrating their referendum victory.Celebrating the end of Germany's EU. Up yours Merkel! Link to comment Share on other sites More sharing options...
ozyjon Posted June 24, 2016 Share Posted June 24, 2016 Germany's Deutsche Bank collapse,,, don't blame this on the Brexit, it started a long time ago and it will have a follow on effect,,,,,, read on,,,,, After a record loss of €6.8 billion in the 2015 business year, Deutsche Bank’s shares have plunged in value by 35 percent in the first weeks of 2016, reaching their lowest level since 2008 Full story here https://www.wsws.org/en/articles/2016/02/23/bank-f23.html Link to comment Share on other sites More sharing options...
MJP Posted June 24, 2016 Share Posted June 24, 2016 Germany's Deutsche Bank collapse,,, don't blame this on the Brexit, it started a long time ago and it will have a follow on effect,,,,,, read on,,,,, After a record loss of €6.8 billion in the 2015 business year, Deutsche Bank’s shares have plunged in value by 35 percent in the first weeks of 2016, reaching their lowest level since 2008 Full story here https://www.wsws.org/en/articles/2016/02/23/bank-f23.html France and Italy could be the next European economies to crash Denied the option of devaluation, both countries have relied on debt-funded public spending to maintain economic activity and living standards. The people and their representatives refuse to face reality. http://www.independent.co.uk/voices/france-and-italy-next-economic-crash-europe-a7054801.html Link to comment Share on other sites More sharing options...
trogers Posted June 24, 2016 Share Posted June 24, 2016 Beautiful !! I hope it's the beginning of a major market crash in which stock & bonds holders ( especially banks ) get wiped out. But it won't of course , central banks are standing ready to pump in the free money. So are you just mouthing off, or do you sincerely hope the world will crash into a deep depression? The world will crash due to one country? Can only happen when the market is already an inverted pyramid... Link to comment Share on other sites More sharing options...
Gecko123 Posted June 24, 2016 Share Posted June 24, 2016 (edited) One of the most interesting days in financial markets in recent memory. Watching how the stock, bond, and currency markets responded to this event has been absolutely fascinating. Edited June 25, 2016 by Gecko123 Link to comment Share on other sites More sharing options...
happy Joe Posted June 25, 2016 Share Posted June 25, 2016 Take it easy, wait a few days and all will be back to normal. I too love to dream ... Link to comment Share on other sites More sharing options...
BuaBS Posted June 25, 2016 Share Posted June 25, 2016 Beautiful !! I hope it's the beginning of a major market crash in which stock & bonds holders ( especially banks ) get wiped out. But it won't of course , central banks are standing ready to pump in the free money. So are you just mouthing off, or do you sincerely hope the world will crash into a deep depression? Yes ! We need a big reset . Burn all paper , delete all computer bits . Detonate the derivative bomb. People have had years to safe themselves by owning physical Gold ( & Silver) . Back to a Gold backed financial system ! ( Burn the banks to the ground). Link to comment Share on other sites More sharing options...
jeffconnors Posted June 25, 2016 Share Posted June 25, 2016 Beautiful !! I hope it's the beginning of a major market crash in which stock & bonds holders ( especially banks ) get wiped out. But it won't of course , central banks are standing ready to pump in the free money. So are you just mouthing off, or do you sincerely hope the world will crash into a deep depression? Think it's better to argue with a brick wall Ed. Link to comment Share on other sites More sharing options...
SOUTHERNSTAR Posted June 25, 2016 Share Posted June 25, 2016 Beautiful !! I hope it's the beginning of a major market crash in which stock & bonds holders ( especially banks ) get wiped out. But it won't of course , central banks are standing ready to pump in the free money. I really can't understand what you are so happy about. You do realize that a market crash will damage or ruin a lot of people, not only the banks..... Historically when you invest money on the stock exchange you know that you are gambling, but with central banks stealing from those who save and give to the stock market gamblers, don't expect sympathy from those that don't gamble. In the past we have seen market corrections every 6 to 8 years and we at 8 years now so we are inline for a major correction. Link to comment Share on other sites More sharing options...
JetsetBkk Posted June 25, 2016 Share Posted June 25, 2016 Link to comment Share on other sites More sharing options...
ilostmypassword Posted June 25, 2016 Share Posted June 25, 2016 Germany's Deutsche Bank collapse,,, don't blame this on the Brexit, it started a long time ago and it will have a follow on effect,,,,,, read on,,,,, After a record loss of €6.8 billion in the 2015 business year, Deutsche Bank’s shares have plunged in value by 35 percent in the first weeks of 2016, reaching their lowest level since 2008 Full story here https://www.wsws.org/en/articles/2016/02/23/bank-f23.html France and Italy could be the next European economies to crash Denied the option of devaluation, both countries have relied on debt-funded public spending to maintain economic activity and living standards. The people and their representatives refuse to face reality. http://www.independent.co.uk/voices/france-and-italy-next-economic-crash-europe-a7054801.html As the article points out, the chief problem is the Euro. If France and Italy had their own currencies, they would be devalued. Can't happen with the Euro. The Germans love it. In relation to their economy, the Euro is way too low which subsidized their export bases economy. Link to comment Share on other sites More sharing options...
MJP Posted June 25, 2016 Share Posted June 25, 2016 An Italian chaps view of Brexit . . . Link to comment Share on other sites More sharing options...
Thaiwine Posted June 25, 2016 Share Posted June 25, 2016 An Italian chaps view of Brexit . . . Great video, why do they talk so fast Link to comment Share on other sites More sharing options...
MJP Posted June 25, 2016 Share Posted June 25, 2016 An Italian chaps view of Brexit . . . Great video, why do they talk so fast Italian passion! Link to comment Share on other sites More sharing options...
katana Posted June 26, 2016 Share Posted June 26, 2016 Brexit: Why The Globalists Losthttp://www.breitbart.com/milo/2016/06/24/the-end-of-globalism/ Link to comment Share on other sites More sharing options...
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