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Markets Right Now: Global stocks plunge after British vote

1 year 5 months 3 weeks ago Friday, June 24 2016 Jun 24, 2016 June 24, 2016 5:03 PM June 24, 2016 in News
Source: Associated Press
By: ApNewsNow

NEW YORK - Global stocks and the pound plunged after Britons voted to leave the European Union.

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.

Some European markets fell even more. France's benchmark index lost 8 percent and Germany's fell 7 percent. Britain's fell 3 percent.

Bond prices rose sharply as investors sought safety.

The yield on the 10-year Treasury note dropped to 1.57 percent from 1.75 percent a day earlier, a huge move.

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