A staggering $2.1 trillion dollars was reportedly washed away from global markets when the UK voted to leave the European Union on Friday. This report is based on the Dow Jones Index (DJI). The Dow also fell by 300 points on Monday, following the news.
Apparently, the uncertainties following the Brexit referendum have caused investors much agony. Many suspect that the United Kingdom’s exit will make many other EU nations to break out of the Union leading to great market volatility in the bloc.
Many investors are running to gold which always performs well during financial crisis. The precious stone boosted by 5% on Friday when the news came.
European banks are already seeing the result of the unpredictability of Brexit as giant banks like the Barclays and Royal Bank of Scotland experienced a drop of 21% and 14% respectively on Monday.
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