Saturday, 25 June 2016

Stocks plunge on Brexit; Dow drops 610 points

US stocks dived on Friday after Britain's surprise vote to leave the European Union, joining a global equity rout amid rising uncertainty about the future of Europe.

The Dow Jones Industrial Average slumped 3.4 per cent to 17,400.75. The 610-point drop was the index's biggest single-day point loss in nearly five years.

The broad-based S&P 500 plunged 3.6 per cent to 2,037.30, while the tech-rich Nasdaq Composite Index sank 4.1 per cent to 4,707.98.

Although the losses were broad-based in the US, sectors that were especially hard-hit included banking, energy, travel and industrials.

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