NEW YORK 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.
Europe's struggling banks were dealt a fresh blow Friday as the U.K. voted to leave the European Union, sending share prices plunging and fueling concerns about banks' long-term profits and health.
President Barack Obama said Friday that the U.K. vote to leave the European Union would not change the “special relationship” the country has with the United States.
The United Kingdom's decision to pull out of the European Union is sending global markets sharply lower. But the pain is being felt hardest by a handful of companies most exposed to the decision.
NEW YORK The S&P 500 turned negative for the year-to-date on Friday as Wall Street suffered its largest selloff in 10 months after Britain's decision to leave the European Union caught traders wrong-footed.