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America vs. The World

Daily Recap

On this mostly down day, the two big concerns are the UK's vote to exit the EU, and what the US Fed will announce on Wednesday. The latest polls show Brexiters up by 7%, although many are skeptical that the vote will actually go that way. But if it does, European stocks could drop 20%, according to Morgan Stanley. That concern explains the big drops in both Germany's DAX index and Britain's FTSE today. The Global Dow lost 1.2%.

 

US stocks have similarly been lower all day, though finishing with relatively moderate losses. The Dow lost 58 points, while other major US indices were down just marginally. Interest rates fell, as investors continued to seek safe havens. US Treasuries hit 3 1/2 year lows, while in Germany, the yield on 10-year bunds fell into negative territory for the first time in history.

 

Crude oil lost 42 cents a barrel, while the US ... Log in or subscribe to continue reading.


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