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.
The risk of another global recession escalated Friday after Britain's stunning decision to leave the European Union plunged financial markets into free fall and tested the strength of the safeguards put in place since the last downturn seven years ago.
NEW YORK/LONDON/FRANKFURT Big Wall Street banks are scouring Europe to find a new home for their traders, bankers and financial licenses now that London is on shaky ground as the region's preeminent financial hub.
DoubleLine Capital, the $100 billion asset manager run by Jeffrey Gundlach, said it will look for opportunities in select markets following the selloff triggered by the U.K.
UPDATE: 6:15 a.m. EDT - The European Central Bank issued a statement Friday in response to the United Kingdom's vote Thursday to leave the European Union.