Brexit brings Dow futures down
On Friday, American stocks went down, after Great Britain drifted further out of the European Union, with the “Leave” camp leading on the Brexit referendum.
Futures for the Dow Jones Industrial Average sagged 700 points, reaching 17,245. The S&P 500 futures dipped 4.9%, trading at 17,246, while Nasdaq-100 futures lost 4.9% at 4,241.
British broadcasters ITV and BBC during early hours of Friday morning predicted еhat the “Leave” camp would win the Brexit referendum and that Great Britain would break up with the trading bloc it had been staying at, since 1973.
The Sky News results tracker also labeled the exit side as a winner, with its 51.7% vs. 48.3% for the “Remain” scenario.
However, moves in currencies, especially in the British pound appeared to be the most pronounced. The sterling was worth $1.3328, showing a 10% fall, compared to Thursday’s outcome of $1.4871 in New York.
The stunning moves arose after global markets edged up, betting that Britons would reject Brexit.