Nasdaq · June 24, 2016
The day Britain voted to leave
-4.12%
single-day change vs previous close
Part of a longer stretch
China steadies, oil turns
near the end of it · 2016-02-11 → 2016-08-05, +22.37% over the whole period
What happened that day?
- The Nasdaq fell 4.12% on the day
- Britain's referendum on leaving the European Union came out for leave. Until the night before, the market had expected remain
- Much of the fall was simply that the expectation was wrong. Positions built on remain were unwound within a day
- The pound collapsed in a single session to its weakest in thirty years
- The direct route to US technology firms was small. Shares fell anyway, on the calculation that a shaken European economy means less world demand, and because money crowded into safe assets
- Recovery was quick, though. The actual exit talks took years, and the market reacted less to the subject as they went on
Sources
Every figure on this page is recomputed from the original daily closing prices and checked against them at build time. The account of what happened is written from the sources listed above.