Crushed: Dow Tumbles 600 Points, Nasdaq Slides Most Since 2011 as Brexit Shakes Stocks
June 24, 2016 at 17:11 PM EDT
Stocks took it on the chin today after the U.K. voted to bail on the European Union, something that just one day ago seemed highly unlikely . As a result, the losses were huuuge. The S&P 500 fell 3.6% to 2,037.30, its largest drop since Aug. 24, 2015. The Dow Jones Industrial Average fell 611.21 points, or 3.4%, to 17399.86, its largest one-day percentage decline since Aug. 24, 2015. The Nasdaq Composite tumbled 4.1% to 4,707.98, its largest drop since Aug. 8, 2011. And those numbers don't necessarily do the selloff justice, though this one might: 47 stocks in the S&P 500 plunged at least 8% today, more than the 39 that finished in positive territory. Can you say "nowhere to hide?" Yet despite the carnage, the week wasn't all that bad . The S&P 500 fell 1.6% this week, while the Dow Jones Industrial Average dropped 1.6% this week, and the Nasdaq Composite finished off 1.9% this week. In fact, Carnegie Investment Counsel's Brent Luce goes as far as calling today's selloff "orderly." He explains why: