Global market crash as UK leaves EU

The surprising decision by British voters to leave the European Union sent global markets into a free fall with the Dow crashing 610 points to 17,400. Nasdaq collapsed 202 points to 4,707.


On the upside


Investors seeking safe haven assets lifted shares of gold miner Sibanye Gold (NYSE: SBGL).

Rising interest in gold investments lifted shares of gold jewelry maker Kingold Jewelry (Nasdaq: KGJI).


Platinum Equity increased its acquisition offer for Electro Rent (Nasdaq: ELRC) from $13.12 per share to $15.50 per share.


On the downside


Shares of Banco Santander (NYSE: SAN) and Banco Bilbao Vizcaya Argentaria (NYSE: BBVA) plunged in reaction to the Brexit vote.


Bank of America (NYSE: BAC), Citigroup (NYSE: C), Morgan Stanley (NYSE: MS) and Wells Fargo (NYSE: WFC) tumbled along with European banking stocks.

Avon (NYSE: AVP) will proceed with plans to relocate its headquarters to the UK despite the Brexit vote.


In the broad market, declining issues outpaced advancers by a margin of more than 5 to 1 on both the NYSE and on Nasdaq. The broader S&P 500 collapsed 75 points to 2,037. Bitcoin soared $36 to $641.

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