Global Stocks Plummet After "Brexit" Vote

Friday, June 24th 2016, 4:19 pm
By: News 9

Global stocks plunged Friday after Britons voted to leave the European Union (EU).

The Dow Jones industrial average dropped 611 points, or 3.4 percent, to 17,399 in heavy trading Friday. The Standard & Poor's 500 index fell 75 points, or 3.6 percent, to 2,037. The Nasdaq composite sank 202 points, or 4.1 percent, to 4,707.

It was the biggest drop for the Dow and S&P 500 since August and the worst fall for the Nasdaq since 2011.

No country has ever left the E.U. Back in April, President Obama said a "Brexit" would put any future United States and United Kingdom deals in jeopardy. 

The pound fell more than 10 percent against the U.S. dollar to level last seen in 1985. This makes it more expensive for U.S. companies to sell products overseas.