GLOBAL MARKETS 24/06 FRIDAY
Global stock markets lost about $2 trillion in value on Friday after Britain voted to leave the European Union, while sterling suffered a record one-day plunge to a 31-year low and money poured into safe-haven gold and government bonds.
Asian stocks cratered, gold prices surged and the dollar briefly plunged below 100 against the yen on Friday as financial markets were rocked. In Japan, the Nikkei 225 tumbled to close 1286.33 points or 7.92%lower at 14952.82The Shanghai composite down 38.33 points, or 1.33%, at 2,853.62 and the Shenzhen composite down 14.60 points, 0.76 %, at 1,900.59. In Hong Kong, the Hang Seng Index finished down 609.21 points, or 2.92 percent, at 20,259.13. Across the Korean Strait, the Kospi lost 61.47 points, or 3.09%, to 1,925.24. Australia's ASX 200 dropped 167.50 points, or 3.17%, to 5,113.18,
European stocks came off their session lows on Friday before falling again.The pan-European STOXX 600 index closed down around 7.03%. London's FTSE 100 closed 3.15% lower The French CAC closed around 8.04% lower on the day. Germany's DAX index tanked around 6.82% down.Italy's FTSE MIB and Spain's IBEX both closed more than 12 percent lower.
U.S. stocks plunged Friday, closing slightly above session lows. The S&P 500 dropped 75.91 points, or 3.59% to close at 2,037.41. The Dow plunged 611.21 points, or 3.39%, to close at 17,399.86. The Nasdaq Composite Index plummeted 202.06 points, or 4.12%, to finish at 4,707.98.
Oil prices settled 5 percent lower on Friday.Brent Crude settled down 4.9 percent, or $2.50, at $48.41 a barrel. It had fallen 6 percent earlier to $47.54. U. S Crude fell 5 percent, or $2.47, to settle at $47.64, its largest one-day decline since February.