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Brexit aftermath: 5 key areas financial advisors should watch

Uncertainty about global markets and global economies triggered by the Brexit vote will continue for weeks, months, possibly for more than a year.

By Bernice Napach | Updated on June 28, 2016
People pass the New York Stock Exchange in New York. (AP Photo/Richard Drew, File)

Just like no one really knew how the Brexit vote would turn out — and many forecasters got it wrong — it’s difficult to know now how Britain’s vote to leave the EU will affect global economies and markets in the longer term, but today it’s been a bloodbath.

At different points during Friday’s trading day, the British pound was off 11%, major stock indexes in the U.K., Western Europe and Japan were all down 8% and the Dow Jones industrial average was off 500 points. The Dow ended the trading day down 611 points, or 3.4%, at 17,400. On the flip side, so-called save haven investments rallied. Gold surged as much as 8% before closing up 4.7% at $1,322 an ounce, and the yield on the 10-Year U.S. Treasury note plunged as low as 1.4% before rebounding to 1.57% by the end of the day.

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