Brexit wins, markets collapse

The United Kingdom's vote to leave the European Union roiled global markets sending the Dow briefly down more than 500 points at the open. The markets pared its losses with the Dow collapsing 402 points to 17,609. Nasdaq plummeted 136 points to 4,773.


On the upside


Staffing 360 Solutions (Nasdaq: STAF) reported higher preliminary fourth quarter and full year 2016 results.


Finish Line (Nasdaq: FINL) reported better than expected first quarter earnings and revenue.

Skullcandy (Nasdaq: SKUL) will be acquired by Incipio in an all cash deal valued at approximately $177 million.


On the downside


Shares of Lloyds Banking (NYSE: LYG), Barclays (NYSE: BCS) and The Royal Bank of Scotland (NYSE: RBS) plummeted after Britons voted to leave the European Union.


Telefonica (NYSE: TEF) cited global market turmoil caused by the Brexit for exploring a possible delay to the initial public offering of its Telxius infrastructure unit.


Concerns about a global recession weighed down shares of ArcelorMittal (NYSE: MT).

In the broad market, declining issues outpaced advancers by a margin of more than 6 to 1 on the NYSE and by more than 7 to 1 on Nasdaq. The broader S&P 500 plunged 48 points to 2,065. Bitcoin leaped $51 to $656.

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