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Stock markets around the world collapsed and the pound plunged on news that Britain’s electorate had emphatically voted to leave the European Union in Thursday’s referendum. Banks including Lloyds, Barclays and Royal Bank of Scotland all saw around a fifth of their value wiped out by Friday lunchtime, with similar losses at housebuilders like Taylor…
It’s not just the pound that’s falling after the U.K. voted leave the European Union. Markets all over the world are in full freakout mode, the euro is falling, and investors everywhere are pulling money out of markets and putting it somewhere safe, meaning the U.S. dollar and U.S. government debt have both strengthened. In…
I’m sitting here looking at my burgundy-red British passport, with EUROPEAN UNION emblazoned in gold letters across the top. I’ve fastened the shirt I’m wearing with cufflinks which have the UK flag on one side, and the German flag on the other—my proud European heritage. I’m thinking about everything I loved about growing up in…
U.S. stocks opened sharply lower Friday, reversing recent gains in a global risk-off trade after Britain surprised markets by voting to leave the European Union. The S&P 500 opened 1.88 percent lower in 1986, according to Howard Silverblatt of S&P Dow Jones Indices. Ahead of the U.S. stock market open, pound sterling held off session…
There was a mixture of jubilation and disbelief in the UK as people awoke Friday to the final verdict in the extremely close vote that deeply divided the nation. Europe was plunged into uncertainty following the result, with calls for further referendums from emboldened far-right groups who see it as a boost for their anti-EU,…
On Thursday British voters willfully walked off a cliff when they decided to leave the European Union. The “Brexit” victory is a defeat for Britain, Europe and the global economy. Tens of millions of Britons voted for isolation — to go it alone — rather than for cooperation. The European Union just lost a sixth of its economy, roughly akin…
On June 23, Britain faces a fateful decision: whether or not to leave the European Union. And the world will be watching. (Daron Taylor,Jason Aldag,Danielle Kunitz/The Washington Post) In Britain, the debate over whether to remain in the European Union is an impassioned one, an existential crisis of national identity that has inspired protests along…
The UK’s historic decision to end its 43-year love-hate relationship with the European Union represents a turning point in British history to rank alongside the two world wars of the 20th century. On the assumption there is no turning back, or collective buyer’s remorse, Britain will live with the political, constitutional, diplomatic and economic consequences…
Global markets buckled, with stocks plunging from Tokyo to London and Chicago, as the BBC projected a victory for the “Leave” campaign with most votes counted in Britain’s referendum on membership of the European Union. The pound fell the most on record, while haven assets jumped. Sterling tumbled 10 percent, the euro slid by the most since…
The release of U.K. referendum results indicating stronger-than-anticipated support for the country to leave the European Union roiled global currency markets and sent the British pound plunging to its lowest level since 1985. The euro also dropped, while higher-yielding currencies from Australia and New Zealand to Mexico and South Africa slumped. Investors in search of…