Britain experiences sudden fall in Sterling amidst Brexit pandemonium

Britain experiences sudden fall in Sterling amidst Brexit pandemonium

Author Hardik Sharma

Global markets are facing an immense sell-off after Britain’s Prime Minister Boris Johnson announced the state’s plans regarding the cut off from the European Union. After his address, the stock markets globally fell, with the Pound Sterling’s value dropping against the evergreen American Dollar. Some significant changes in the global market are as follows:-

  • Dow Jones fell nearly 300 points, or 1.12%, at 26,276.37
  • S&P 500 down 35 points, or 1.19%, at 2905.23
  • Nasdaq fell by 1.24%, or 98 points, at 7810.56
  • FTSE 100 index down 2.55%, or 188 points, at 7172.56
  • Germany’s Dax down 1.88%, or 230 points, at 12,033.58
  • CAC down 2.3%, or 129 points, at 5468.51
  • Italy’s FTSE Mib plunged 1.61%, or 352 points, at 21,573.23

The pound though has recovered a bit after its sudden 0.6% fall against the dollar and 0.4% against the Euro.

This fall comes as a mixed bag for India where certain ventures will benefit from the same. However, most of the stockholders will again feel the asserted dominance of the dollar in the World Stock Market.

What remains to be seen though are the after-effects the Brexit decisions take on the world economy and shares.

Statistics referred from the Guardian.

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