The UK Chooses Brexit, Market Reacts, P.M. Cameron to Step Down

The UK Chooses Brexit, Market Reacts, P.M. Cameron to Step Down
June 24, 2016 Market Traders Institute

In a surprising move, the United Kingdom chose to leave the European Union by a vote of 51.9% to 48.1%. This has caused massive ripples across the world both financially and politically.

This post will be updated throughout the day: Updated 6/24/16 @ 4:24 PM EST

  • Prime Minister David Cameron elects to resign his position in the wake of the Brexit vote. Cameron (who was opposed to leaving the EU) said he was proud to lead the country to this historic vote, but feels that new leadership is needed going forward. His resignation date is set for this coming October.

  • The pound fell by more than 6 percent and ended the lowest it’s been in over 30 years. Shares against the major currencies (USD, EUR, JPY) fell sharply before retreating  slightly bullish.  The markets are expected to remain in flux throughout Friday and the weekend.

  • European stocks are setting up for the worst they’ve been since 2008.

    • The FTSE 100 closed after dropping 3.15% with billions of pounds lost in the process

    • Germany’s DAX Index ended the day 6.82%

    • The Swiss Market Index dropped 3.2%

    • France CAC 40 closed at 6.24%

    • Japan’s Nikkei market finished the day closed by losing 7.92% on the day

    • The Dow Jones Industrial Average has closed 610 points down, or 3.39%

    • S&P 500 ends the day at 3.6% down

  • Political analysts say this opens the door for a similar referendums across Europe and Scotland. First Minister of Scotland Nicola Surgeon calls a Scottish Independence vote  “inevitable”. This also opens the door for other European nations such as France and Germany to have their own Brexit-style votes

The time to capture pips is now!  Join a FREE webinar and learn the strategies you can use to potentially profit off of this world-changing event!

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