US stocks slump, turn negative for the year in the Brexit aftermath

Ani Salama FXStreet

US stocks slumped on Friday, tracking overseas peers, with main indexes erasing completely 2016 gains, after the UK voted to leave the European Union.

The Dow Jones Industrial Average posted its largest one-day drop in 10 months, falling 611.21 points, or 3.39%, to 17,399.86. The index lost 1.6% over the week and turned negative for the year. The S&P 500 lost 75.92 points, or 3.6%, to 2,037.40, its largest one-day percentage decline since August. For the week, the index dropped 1.6%. The Nasdaq Composite plunged 202.06 points, or 4.1%, to 4,707.98 and lost 1.9% over the week.

Author

Ani Salama

FXStreet

Ani Salama is an Economist specialized in financial markets and statistics analysis. In 2010, she joined FXstreet where she now contributes with the news section.

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