Australia, New Zealand shares drop sharply on Brexit

By: | Published: June 24, 2016 12:53 PM

Australian shares plunged more than 3 percent and New Zealand stocks slumped more than 2 percent on Friday, as voters in Britain took the historic decision to pull out of the European Union, roiling global markets.

New zealand stocks New Zealand’s benchmark S&P/NZX 50 index shed 2.25 percent, or 153.57 points, to finish the session at 6,667.78. (Reuters)

Australian shares plunged more than 3 percent and New Zealand stocks slumped more than 2 percent on Friday, as voters in Britain took the historic decision to pull out of the European Union, roiling global markets.

The S&P/ASX 200 index fell 3.17 percent, or 167.484 points, to end the session at 5,113.20. It was the benchmark’s biggest single-day fall since September 2015 and wiped A$50 billion ($36.82 billion) off the exchange.

New Zealand’s benchmark S&P/NZX 50 index shed 2.25 percent, or 153.57 points, to finish the session at 6,667.78.

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