8 years ago
Uh-oh. Britain’s shock exit from the EU is wreaking havoc on the ASX.
BRITAIN’S exit from the European Union has sent shock waves through the Australian share market, wiping about $70 billion from the ASX. Several world leaders have warned that a British exit, or Brexit, of the EU would lead to a recession with global spillover effects. Financial markets across the world went into free fall as results of the EU referendum came in. The pound collapsed to a 31-year low and currency, equity and oil markets went into free fall Friday as projections showed Britain voted to leave the EU.
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