Wall Street slides as Brexit takes investors by surprise

By: | Updated: June 25, 2016 1:58 AM

U.S. stocks fell sharply on Friday, with the Dow Jones industrial average dropping as much as 538 points, as Britain's vote to quit the European Union roiled global financial markets.

Investors worried about the outlook for the world economy sought refuge in the dollar and other safe-harbor assets such as gold and U.S. Treasury bonds, while dumping riskier shares.(Reuters)Investors worried about the outlook for the world economy sought refuge in the dollar and other safe-harbor assets such as gold and U.S. Treasury bonds, while dumping riskier shares.(Reuters)

Bank shares tumbled on Friday to lead Wall Street’s biggest selloff in 10 months after Britain’s decision to leave the European Union caught traders wrong-footed.

The Dow Jones industrial average fell 611.21 points, or 3.39 percent, to 17,399.86, the S&P 500 lost 76.02 points, or 3.6 percent, to 2,037.3 and the Nasdaq Composite  dropped 202.06 points, or 4.12 percent, to 4,707.98.

Also Read | Brexit jitters hit world, but India will shine bright, say analysts

 

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