European stocks go down as Britain ditches EU
On Friday, European shares slid, with traders escaping from risk assets after Great Britain’s long-awaited referendum, setting this country on course to break up with the EU bloc.
The Stoxx Europe 600 decreased 8.4%, trading at 317.45. The benchmark appeared on track for its worst trading session since October 1987, as FactSet states.
Fewer than 10 stocks on the index were heading north. For instance, stocks of gold miner Randgold Resources Ltd. gained 28% as traders sought safety in the number one precious metal. Many stocks on the Stoxx 600 halted at the open.
The FTSE 100 sank 7.5% in London, hitting 5,861.47.
The given sell-off kicked off after results from the Brexit vote revealed that up to 51.9% of British voters are eager to see their country outside of the EU, compared with just 48.1% who preferred to stay in the bloc. The decision for a Brexit will see the country leave a union that it’s been a part of since 1973.