U.S. Stocks Plummet After Britain Votes To Leave The EU
Follow CBSDFW.COM: Facebook | Twitter
NEW YORK (AP) -Global stocks and the pound are plunging after Britons voted to leave the European Union.
The Dow Jones industrial average dropped 464 points, or 2.6 percent, to 17,547 in midday trading Friday.
The Standard & Poor's 500 index fell 55 points, or 2.7 percent, to 2,056. The Nasdaq composite sank 153 points, or 3.2 percent, to 4,755.
It was the biggest drop for U.S. stocks since September.
European markets fell even more. France's benchmark index lost 8 percent and Britain's fell 3 percent.
The British pound plummeted to a 31-year low.
Bond prices rose sharply as investors sought safety.
The yield on the 10-year Treasury note dropped to 1.57 percent from 1.75 percent a day earlier, a huge move.
The price of gold jumped 5 percent to $1,322 an ounce.
* This is a developing story. Refresh for the latest updates.
(© Copyright 2016 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed)
