Brexit "earthquake" sends investors worldwide into "crisis mode"

by Ben Reilly Fri Jun 24, 2016 9:40 pm

Investors around the world went into crisis mode as British voters chose to leave the European Union in a stunning decision with far-reaching implications.

U.S. stocks followed plunging global markets. The Dow ended the day down 611 points, or over 3.4%, while the S&P 500 lost 3.6%. The Nasdaq composite index dropped 4.12%, and into correction territory -- or down 10% from its recent high.

The selloff might have been exacerbated with the vote coming on a Friday.

Investors are going into a weekend potholed with uncertainty, making them scramble to get their ducks in order before markets close. There's also the possibility that other EU countries, such as France, start pursuing referendum votes. And the dollar's appreciation against the euro and pound could cause China to devalue its currency, according to Jeff Kleintop, chief global investment strategist, at Charles Schwab.

More exits out of the EU could challenge its institutions, such as the European Central Bank, which has played a huge role in the continent's tepid recovery from the global financial crisis.

"You don't know what's going to happen over the weekend," says Kleintop. "Do we start to see a break down in Europe that would render the European Central Bank unable to conduct monetary policy?"

The British pound plummeted close to $1.33, its lowest level in more than 30 years, as the results of the referendum became clear. It's now down around 6% near $1.36. The euro also fell heavily.

Investors are already concerned about cash drying up in global financial markets.

"Britons delivered a bombshell to the markets," says Chris Gaffney, president at EverBank World Markets, a firm headquartered in Florida. "This is the biggest risk to markets right now -- a possible lack of liquidity like we got during the Lehman crisis."

http://money.cnn.com/2016/06/23/investing/eu-referendum-markets/

Brexit "earthquake" sends investors worldwide into "crisis mode" Image

by Victorismyhero Fri Jun 24, 2016 9:59 pm

I dont think so Ben....

and...you forget ....these investors are actually doing it to themselves no one is "making them sell " and run like scared little piggies..they live in an artificial bubble of telephone number money hallucinations....

sometimes the bubble pops...then they all squeal like piglets facing the burdizzo...and any one hearing the squeal squeals with them and thus the squeal spreads...

by Ben Reilly Fri Jun 24, 2016 10:44 pm

Lord Foul wrote:I dont think so Ben....

and...you forget ....these investors are actually doing it to themselves no one is "making them sell " and run like scared little piggies..they live in an artificial bubble of telephone number money hallucinations....

sometimes the bubble pops...then they all squeal like piglets facing the burdizzo...and any one hearing the squeal squeals with them and thus the squeal spreads...

Nonsense, Vic. All over the world people who are economic geniuses are analyzing this situation, and guess what -- they're all coming to the same conclusion.

And I do enjoy the irony of a pro-Brexiter teasing people over reacting to fears Smile

by Victorismyhero Fri Jun 24, 2016 10:55 pm

yes its quite delicious innit ben

fgs you and sassy...you pair are the ides of march

woe, woe and thrice woe........

by Guest Fri Jun 24, 2016 10:59 pm

Nope Vic, we are the see things clearly pair Twisted Evil

by Victorismyhero Fri Jun 24, 2016 11:07 pm

well its done..dusted...

so...either

LEAD FOLLOW >>>>OR GET OUTTA THE WAY

by Guest Fri Jun 24, 2016 11:09 pm

I'd rather lead in a different direction lol

by Ben Reilly Fri Jun 24, 2016 11:17 pm

“F***ing disaster. Single most irresponsible, grossly misconceived act of self harm in history. Every single one of the leave leaders must be held accountable and not allowed to slope off. [Former London Mayor Boris Johnson]’s speech was grotesque, our own home grown Trump. Boris Trump. C**t.”

- Senior British banking officer, as told to Buzzfeed News

by Raggamuffin Fri Jun 24, 2016 11:19 pm

Isn't there already a thread on this - started by Ben?

by Victorismyhero Fri Jun 24, 2016 11:21 pm

well...it probably has bitten his ass....

wonder how much a bite its taken out of his bonus??

besides...a bit of chaos never hurt anyone......

by Ben Reilly Fri Jun 24, 2016 11:23 pm

Raggamuffin wrote:Isn't there already a thread on this - started by Ben?

Consider this what we call in arcane journalist lingo a "folo." http://www.slowburn.com/clients/fais/journalism/jterms.html

by Ben Reilly Fri Jun 24, 2016 11:23 pm

Lord Foul wrote:well...it probably has bitten his ass....

wonder how much a bite its taken out of his bonus??

besides...a bit of chaos never hurt anyone......

What's a bonus?

by Victorismyhero Fri Jun 24, 2016 11:23 pm

Raggamuffin wrote:Isn't there already a thread on this - started by Ben?

Pfffft...RAGA,,,,,,the world has come to an end...and you worry about a duplicate thread tsk tsk Razz

Brexit "earthquake" sends investors worldwide into "crisis mode" 3489511464

by Victorismyhero Fri Jun 24, 2016 11:24 pm

Ben Reilly wrote:
Lord Foul wrote:well...it probably has bitten his ass....

wonder how much a bite its taken out of his bonus??

besides...a bit of chaos never hurt anyone......

What's a bonus?

to you ...probably your boss paying for a taxi to your next job

to him probably about 1 million quid.....

by Raggamuffin Fri Jun 24, 2016 11:25 pm

Lord Foul wrote:
Raggamuffin wrote:Isn't there already a thread on this - started by Ben?

Pfffft...RAGA,,,,,,the world has come to an end...and you worry about a duplicate thread tsk tsk

Just because the UK has broken free, that's no excuse to start duplicate threads. Laughing

by eddie Fri Jun 24, 2016 11:30 pm

I ain't moderating nobody today
I'll get my face bitten off - and not in a nice way

by Victorismyhero Fri Jun 24, 2016 11:37 pm

Raggamuffin wrote:
Lord Foul wrote:
Raggamuffin wrote:Isn't there already a thread on this - started by Ben?

Pfffft...RAGA,,,,,,the world has come to an end...and you worry about a duplicate thread tsk tsk

Just because the UK has broken free, that's no excuse to start duplicate threads.

all together now

by Raggamuffin Fri Jun 24, 2016 11:41 pm

I'm loving the outrage from the lefties. lol!

by Ben Reilly Fri Jun 24, 2016 11:47 pm

Lord Foul wrote:
Ben Reilly wrote:
Lord Foul wrote:well...it probably has bitten his ass....

wonder how much a bite its taken out of his bonus??

besides...a bit of chaos never hurt anyone......

What's a bonus?

to you ...probably your boss paying for a taxi to your next job

to him probably about 1 million quid.....

My boss would be more likely to kick me in the nuts than buy me a taxi ...

by Ben Reilly Fri Jun 24, 2016 11:48 pm

Raggamuffin wrote:
Lord Foul wrote:
Raggamuffin wrote:Isn't there already a thread on this - started by Ben?

Pfffft...RAGA,,,,,,the world has come to an end...and you worry about a duplicate thread tsk tsk

Just because the UK has broken free, that's no excuse to start duplicate threads.

Hey Raggs, the info in each thread is different. Duplicates are not different from one another. My threads are.

by Ben Reilly Fri Jun 24, 2016 11:49 pm

Raggamuffin wrote:I'm loving the outrage from the lefties.

Oh, I thought there was tons of Labour support for Brexit! That's what Vic said. (But I had a chart.) :D

by Raggamuffin Fri Jun 24, 2016 11:51 pm

Ben Reilly wrote:
Raggamuffin wrote:

Just because the UK has broken free, that's no excuse to start duplicate threads.

Hey Raggs, the info in each thread is different. Duplicates are not different from one another. My threads are.

It's the same subject though. Do you start a new thread every time you make a new post? I sometimes think that's what some people on here do.

by Raggamuffin Fri Jun 24, 2016 11:52 pm

Ben Reilly wrote:
Raggamuffin wrote:I'm loving the outrage from the lefties.

Oh, I thought there was tons of Labour support for Brexit! That's what Vic said. (But I had a chart.) :D

I mean the lefties on here - including ones who don't even live in the UK. Laughing

by Ben Reilly Sat Jun 25, 2016 12:14 am

Raggamuffin wrote:
Ben Reilly wrote:
Raggamuffin wrote:

Just because the UK has broken free, that's no excuse to start duplicate threads.

Hey Raggs, the info in each thread is different. Duplicates are not different from one another. My threads are.

It's the same subject though. Do you start a new thread every time you make a new post? I sometimes think that's what some people on here do.

I do, it doesn't bother me overmuch when others do not, though. If it's a significant update to the story, I start a new thread. ("Michael Jackson Dies" - one thread. "Michael Jackson Resurrected" - new thread)

by eddie Sat Jun 25, 2016 12:21 am

MJ was resurrected? Suspect

I knew it would happen if I shot that buffalo from the second floor of that hotel.

by Tommy Monk Sat Jun 25, 2016 1:19 am

Looks like the 'financial turmoil' last night was down to the last poll of the night showing a large remain result!!!

What about that last-minute Ipsos poll?
Ipsos MORI conducted a final poll, extending their fieldwork to the last day of campaigning, which predicted an eight-point win for Remain. This, coupled with the financial markets, led Ukip's Nigel Farage to last night declare: "It looks like Remain will edge it."

Why were the polls wrong?
One factor was the refusal of analysts to accept that phone and online polls would reach different demographics, says the Telegraph, leading to a "falsely encouraging" conclusion for the Remain camp. According to Carr, some pollsters could not resist "the temptation to put their thumb on the scales"?

They took "unusual measures" with their final polls which "at first glance appear to be designed to push up the scores for Remain", he adds. These included the "fairly arbitrary" decision by ORB to allocate floating voters three-to-one in favour of Remain.

Carr isn't suggesting a conspiracy - rather, polling firms were under tremendous pressure to give a clear answer one way or another, instead of maintaining that the result was too close to call.

What about the markets and the bookies?
Even as late as five hours before the results were clear, betting markets gave Remain a 96 per cent chance of winning the vote, says NYT's Cohn, while the financial markets got it completely wrong.

http://www.theweek.co.uk/eu-referendum/65461/latest-eu-referendum-result-david-cameron-will-resign-by-october-after-brexit

by Ben Reilly Sat Jun 25, 2016 1:27 am

Tommy, that misread was historical on your part.

by Tommy Monk Sat Jun 25, 2016 1:44 am

by Raggamuffin Sat Jun 25, 2016 6:47 am

Ben Reilly wrote:
Raggamuffin wrote:

It's the same subject though. Do you start a new thread every time you make a new post? I sometimes think that's what some people on here do.

I do, it doesn't bother me overmuch when others do not, though. If it's a significant update to the story, I start a new thread. ("Michael Jackson Dies" - one thread. "Michael Jackson Resurrected" - new thread)

You were complaining about threads on the same subject the other day - when you were having a go at Didge.

You are expected to avoid flooding the forum with material that is on the same subject or group of subjects.

by 'Wolfie Sat Jun 25, 2016 7:04 am

Lord Foul wrote:
well its done..dusted...

so...either

LEAD FOLLOW >>>>OR GET OUTTA THE WAY

IF I GET myself motivated enough next week...

I should really be looking at any buying opportunities;

Look to topping up my modest l'il portfolio; (Always been more of a "contrarian" investor, but it's still tended to keep me ahead over the long term..). Brexit "earthquake" sends investors worldwide into "crisis mode" 1399249160

Brexit "earthquake" sends investors worldwide into "crisis mode" 1399249160

by Ben Reilly Sat Jun 25, 2016 7:27 am

Raggamuffin wrote:
Ben Reilly wrote:
Raggamuffin wrote:I'm loving the outrage from the lefties.

Oh, I thought there was tons of Labour support for Brexit! That's what Vic said. (But I had a chart.) :D

I mean the lefties on here - including ones who don't even live in the UK.

Well, your little national temper tantrum is screwing the world. I'm glad you are happy about that, though.

by eddie Sat Jun 25, 2016 8:07 am

I've realised something over the last two days: it's not only RW's that appear selfish.

by nicko Sat Jun 25, 2016 8:32 am

Ben, I keep on reminding you, our "little island" has no effect on the Global economy. That's what you and others implied, why have you changed your mind?

by Guest Sat Jun 25, 2016 8:43 am

Ben Reilly wrote:
Raggamuffin wrote:

I mean the lefties on here - including ones who don't even live in the UK.

Well, your little national temper tantrum is screwing the world. I'm glad you are happy about that, though.

So basically yuu are n fact only caring about this being in your favour and not in the favour for others?
Tad selfish do you not think.
Remember a nation has a right to self determination and even though I wanted to remain in the EU, the people voted and not based off fear, but because of numerous reasons, Only a fraction voted off fear, most reasoned why they vote to leave.
As to screwing the world an as you come from a country, that has a track record for constantly screwing things up. I suggest you first learn from the numereous cock ups the US has made, before going off some jumpy shares index and value of currency. To think you have the right to castigate the Brits, after only a few days, when its way to early to tell whether leaving was good or bad.
Within a short time, just like any other losses, you always have recoveries.

by nicko Sat Jun 25, 2016 8:46 am

Nice one Didge, see, ben never answered my post, wonder why.

by Guest Sat Jun 25, 2016 8:55 am

nicko wrote:Nice one Didge, see, ben never answered my post, wonder why.

Now worries mate
Sadly some of the left are playing "throw my dummy out of the pram" card over this democratic decision to decide what is best for the uk
I see Juncker is acting the exact same over the vote and wants the divorse from the EU as soon as possible and saying its not an amicable divorce. Talk about playing his cards on the table and showing how badly he is being, shows what a sour graoes he is. No thanks either for all the contributions the Uk has made towards the EU as well, ungrateful muppet lol
Well, until the Uk has decided upon a new leader for the country, he cn basically get stuffed, as there is a time frame of two years to withdraw from the EU. Though am sure many would want to leave sooner. The UK, should first look to sort out all Non-EU trade deals and place itself in such a strenghened position, it will be the EU having to come to British terms on trade. This is paramount that this is done first and hence why its more practical to make the EU sweat and suffer by waiting.

by 'Wolfie Sat Jun 25, 2016 9:05 am

The mass media's concentration on "investors" going into some fanciful "crisis mode" of some unqualified journalists' imagination, is basically a load of crap talk, to help sell papers, and website advertising space...

These days, over half the share capital on the worlds stockmarkets is controlled by investment funds, mutual/pension funds, and big institutions such as banks, finance companies and insurance companies..

AND, a lot of their day-to-day trades are being carried out through computerised 'automated trading systems', often triggered by pre-set trigger points in the movements of 'baskets' of selected key market-leading shares.. Hence, if you see a sharp swing either up or down, the automated systems can then feed off each other, leading to the "knee jerk" reactions that nicko spoke about.

Then after a while, the fund managers' own stockbrokers take over -- buying back up stocks to re-balance their indexed funds, and tidy up a bit -- leading to the eventual rebound upswings, that Didge is talking about above..

THAT'S WHY, as I mentioned in a couple of threads yesterday, we should expect a market rebound early-->>mid next week...
And, why I might also look at any opportunities to top up my own share portfolio.. Basketball

by Guest Sat Jun 25, 2016 9:11 am

WhoseYourWolfie wrote:

The mass media's concentration on "investors" going into some fanciful "crisis mode" of some unqualified journalists' imagination, is basically a load of crap talk, to help sell papers, and website advertising space...

These days, over half the share capital on the worlds stockmarkets is controlled by investment funds, mutual/pension funds, and big institutions such as banks, finance companies and insurance companies..

AND, a lot of their day-to-day trades are being carried out through computerised 'automated trading systems', often triggered by pre-set trigger points in the movements of 'baskets' of selected key market-leading shares.. Hence, if you see a sharp swing either up or down, the automated systems can then feed off each other, leading to the "knee jerk" reactions that nicko spoke about.

Then after a while, the fund managers' own stockbrokers take over -- buying back up stocks to re-balance their indexed funds, and tidy up a bit -- leading to the eventual rebound upswings, that Didge is talking about above..

THAT'S WHY, as I mentioned in a couple of threads yesterday, we should expect a market rebound early-->>mid next week...
And, why I might also look at any opportunities to top up my own share portfolio..

Good prediction and has started sooner than you think

http://www.proactiveinvestors.co.uk/companies/market_reports/127512/ftse-100-trims-losses-after-day-of-political-upheaval-127512.html

by nicko Sat Jun 25, 2016 9:42 am

+1 Wolfie!

by Ben Reilly Sat Jun 25, 2016 2:29 pm

nicko wrote:Ben, I keep on reminding you, our "little island" has no effect on the Global economy. That's what you and others implied, why have you changed your mind?

Show me one post I ever made where I actually said that. I believe you'll find I actually said the UK's only hope of being a world player was as an EU member.

Hey, I hope the markets do rebound, but you guys do realize I didn't make any of this stuff up, right? Why are you trying to make this about me?

by Victorismyhero Sat Jun 25, 2016 2:50 pm

no true you didnt "make it up"...you just polished it a bit

woe woe and thrice woe....

by Ben Reilly Sat Jun 25, 2016 2:51 pm

Lord Foul wrote:no true you didnt "make it up"...you just polished it a bit

woe woe and thrice woe....

I didn't polish a single word.

by Tommy Monk Sat Jun 25, 2016 3:18 pm

All the polls said remain a clear win and the bookies had it as a clear odds on favourite result... so any 'financial turmoil' is down to casino bankers thinking we were going to remain!!!

lol!

by Ben Reilly Sat Jun 25, 2016 3:21 pm

Tommy Monk wrote:All the polls said remain a clear win and the bookies had it as a clear odds on favourite result... so any 'financial turmoil' is down to casino bankers thinking we were going to remain!!!

Yes, the EU losing its single largest economy had nothing to do with it...

by Tommy Monk Sat Jun 25, 2016 3:27 pm

Not really because they all thought we were going to vote remain!!!

All the polls said so!!!

All the short selling started way before any conclusive result was in... and when the out vote came through the markets started recovering!!!

by Ben Reilly Sat Jun 25, 2016 3:34 pm

Tommy Monk wrote:Not really because they all thought we were going to vote remain!!!

All the polls said so!!!

All the short selling started way before any conclusive result was in... and when the out vote came through the markets started recovering!!!

Tommy, you’re clueless!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

by Guest Sat Jun 25, 2016 4:22 pm

by Guest Sat Jun 25, 2016 4:43 pm

Ben Reilly wrote:
Lord Foul wrote:I dont think so Ben....

and...you forget ....these investors are actually doing it to themselves no one is "making them sell " and run like scared little piggies..they live in an artificial bubble of telephone number money hallucinations....

sometimes the bubble pops...then they all squeal like piglets facing the burdizzo...and any one hearing the squeal squeals with them and thus the squeal spreads...

Nonsense, Vic. All over the world people who are economic geniuses are analyzing this situation, and guess what -- they're all coming to the same conclusion.

And I do enjoy the irony of a pro-Brexiter teasing people over reacting to fears

Really, you think something already unpredictable based on how the Uk is yet to make trade deals?
You can find the broightest economic genusis and they will be at best making a forecasted educated guess.
Wilth a likelyhood success rate of them being right at 10%
Nobody can prediict anythingb this early at this stage.
Nobody even knows if now the EU will even last

by Tommy Monk Sat Jun 25, 2016 5:10 pm

Ben Reilly wrote:
Tommy Monk wrote:Not really because they all thought we were going to vote remain!!!

All the polls said so!!!

All the short selling started way before any conclusive result was in... and when the out vote came through the markets started recovering!!!

Tommy, you’re clueless!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

I have posted up proof already... check for yourself... all the last polls said remain was a sure thing... then the market turmoil started... casino bankers betting on the outcome...

While in the rest of the uk... everything is still the same... not even started article 50 yet...

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