Immediate After Shocks & Consequences of Brexit - World Markets Plummet, DJIA Drops 444 Points, FTSE 100 Touches Historic Low, Pound Sterling At 30 Year Low

This is not investment advice. The writer has no position in any of the stocks mentioned. WCCF TECH INC has a disclosure and ethics policy.

Earlier today United kingdom of great britain and northern ireland chose to go out the Eu in the historic ballot with virtually 52% favoring a leave and 48% siding with a remain. The repercussions of Brexit have already begun to be felt around the globe with globe markets and stocks plummeting due to the uncertainty and currency adjustment that would almost certainly occur. In just a few hours, the FTSE and the Pound Sterling has hit historic lows with NASDAQ poised to feel the repercussions too according to the Pre-Market data.

Global Markets in Turmoil subsequently Brexit

The first casualty has been the Global Markets with benchmarks around the earth falling in the wake of the referendum. The NIKKEI 225 plummeted by almost 8% earlier the exchange suspended trading for the day. Approximately 120 Billion Pound sterling take been wiped out from the FTSE in a dip of virtually 8% - which is the biggest since the blighted day the Lehman Brothers collapsed in 2008. The market recovered (to a five% loss) after David Cameron's announcement that he would resign and that the Bank of England would take whatsoever steps necessary to stabilize the markets and the economy. The DAX and the CAC were also downwards with Kingdom of spain's IBEX plummeting a sheer x%.

Pound sterling collapses to xxx year low

Global yields have collapsed in the wake of the pound sterling falling to its thirty year depression resulting in Great britain now beingness poorer than France. A tape £127m was traded across the Betfair Commutation Eu Referendum marketplace as punters wagered the consequence of the vote until the last infinitesimal. The current commutation rates are:

British Pound to euro exchange rate today -5% at 1.24, lowest at ane.2018.

Euro to pound exchange rate: 0.8065 all-time at 0.8321

Pound to dollar substitution charge per unit today -7.77% at 1.3720, lowest at one.3218

Pound to Australian dollar exchange rate today -5.16% at 1.8513, everyman at 1.8005

Pound to New Zealand Dollar commutation rate today -5.60% at 1.9349, lowest at 1.8869

Pound to Swiss Franc exchange charge per unit today -vi% at 1.3390, lowest at 1.2854

Pound to Yen commutation rate today -11% at 140.07, everyman at 133.20 (Source)

Dow Jones Alphabetize Plummets past 444 points, S&P500 Down past 2.55 %

The opening bells for the NASDAQ have just wrung and the DJIA tracker has plummeted 444 points direct downward from the get go. The Due south&P500 alphabetize is too down by 2.55%, and the preliminary pre-market numbers are every bit follows:

APPLE INC Downward 3.43 Per centum

ALPHABET DOWN four.26 PCT

MICROSOFT Downward iii.76 Per centum,

FACEBOOK Down 3.98 PCT,

AMAZON.COM DOWN four.39 PCT

FITBIT INC SHARES Down 7.52 PCT

ORACLE CORP SHARES DOWN three.99 Pct

TWITTER INC SHARES DOWN five.69 Pct

NVIDIA CORP SHARES DOWN 2.69 PCT

AMD CORP SHARES Downwardly 3.26 Percentage

INTEL CORP SHARES Downwardly 2.33 Percent

Financial and Political Contagion in the UK and the rest of the world

The financial contamination following Brexit is already widespread and will touch on all sectors including technology will be affected. One of the biggest technology players that are caught in the crossfire of Brexit is ARM Holdings, however as nosotros covered in our analysis before and pointed out - the company is very well insulated due its diversified client base of operations. The Bank of England has promised to take measure out but uncertainty remains rampant at this point in time.

There are also fears that this might induce a global meltdown leading to the Chinese debt blackness pigsty blowing up which can significantly impact the global economy. Fear-mongering aside, the global economy very literally stands on the precipice of falling into a global meltdown. We will go on you updated as the situation progresses. Some immediate furnishings that the United kingdom of great britain and northern ireland will have to face is:

Increased prices in the UK.

Earth's 5th largest economy with long menstruum of uncertainty every bit it enters the ii-yr negotiation phase.

With cost of borrowing increasing for the UK govt, a well as the prices, economic activeness is likely to shrink.