Posted on 06/23/2016 8:22:28 PM PDT by Berlin_Freeper
With investors on razor's edge, markets around the world turned sharply negative as initial results from the British referendum on European Union membership showed a nail-bitingly close vote. The pound plunged to its lowest level since 1985 as results gave a narrow lead to the Leave campaign. Amid volatile trading, the British currency sank below $1.35 after earlier touching $1.50.
(Excerpt) Read more at money.cnn.com ...
I haven’t followed this much at all. But from what little I know it sounds like the rest of Europe is very dependent on Great Britain. Sounds to me like they are “Going Galt” in a way.
Nasty premarket trading: pound sterling - 10%, Dow -510. Those are bubble busted numbers. Emotions are running rampant.
If they’re selling we should be buying.
The Canadian dollar is dropping like a rock. Maybe the Canadians will sell all of their oil resources to the U.S.A. in order to be more British.
;-)
At least 60 billion had already been pulled out of UK in the last couple of months.
Brexit vote lead accelerating. Now 800k+
The currencies are going nuts, too. The pound is down 10% vs the dollar, and 15% against the yen. The dollar is down 5% vs yen, but up on most others.
I smell Soros around.
I bet Soros is buying.
WTI crude oil: stable at 47.58. Little change, not much.
Affecting our market. Dow futures down over -500 as I write this.
Sky News has just called it for BREXIT!
Exactly.
The Western world is realizing that rule by old hippies who still think they’re living in 1974 is a really bad idea in the 21st century.
You can’t blame UK for wanting more control over immigration and a degree of separation from the Italian, Greek and Spanish economies (if they can be called that). It’s likely to be painfull for a while though.
“Sky News projection: UK votes out”
They had (have) a big problem with east bloc (Romanian) pickpockets and other sharpies working the streets in London.
Maybe now they can give these blights on English society a ‘seat of the pants’ goodbye.
Gold is at $1305.
Britain was always a small player in the EU, never fully engaged either politically or economically. Britain being out could actually be better for Italy etc.
I like the color code, true blue to leave and chicken fat yellow to stay.
Not if the UK grabs the gauntlet and LEADS. Leadership, be it BREXIT or Trump is beginning to win the day. A lot of terrible crap is going on in the world today, and I believe LEADERS are finally emerging to call it what it is.
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