The markets saw their worst two-day performance in 10 months as Brexit concerns battered the global financial and energy sectors. The Dow Jones Industrial Average shed 260 points as investors continued to sell assets in the face of the British exit from the European Union.
The sharp downturn was fueled by a disappointing day for investors of Boeing Co. (NYSE: BA) and International Business Machines Corp. (NYSE: IBM), which saw shares fall 2.8% and 2.2%, respectively. Despite the sharp downturn, the VIX S&P 500 Volatility Index – also known as the market’s fear gauge – fell more than 8%.
Let’s recap all the key events from today’s session.
First up, check out the results for the Dow Jones, S&P 500, and Nasdaq:
Dow Jones: 17,140.58; -260.17;Â -1.50%Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
S&P 500: 2,000.54; -36.87;Â -1.81%
Nasdaq: 4,594.44; -113.54;Â -2.41%Â
Now, here’s the top stock market news today… and your best ways to profit.
DJIA Today: Brexit Dominates the News, Travel Stocks Hammered Hardest
Today, markets reacted to concerns about the health of the British economy. Earlier today, Standard & Poor’s announced it has slashed the credit rating of the United from “AAA” to “AA.” The ratings agency said that the Brexit harms the nation’s credit worthiness as increased uncertainty hovers over the second-largest economy in Europe.
Money Morning Capital Wave Strategist Shah Gilani had been predicting since earlier this month that British voters would decide to leave the EU. And he offered investors several profitable plays that have generated a tidy gain. Here’s Shah’s latest commentary on why Brexit happened, and – more importantly – what the Brexit results mean for your money.
