Brexit cost investors $2 trillion..the worst one day drop ever..China could be the biggest winner

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http://www.cnbc.com/2016/06/26/brexit-cost-investors-2-trillion-the-worst-one-day-drop-ever.html

The U.K.’s referendum to leave the European Union was a costly decision in more ways than one.

Worldwide markets hemorrhaged more than $2 trillion in paper wealth on Friday, according to data from S&P Global, the worst on record. For context, that figure eclipsed the whipsaw trading sessions of the 2008 financial crisis, according to S&P analyst Howard Silverblatt.

The prior one day sell-off record was $1.9 trillion back in September of 2008, Silverblatt noted. According to S&P’s Broad Market Index, combined market capitalization is currently worth nearly $42 trillion.

As bourses sold off from Asia to the U.S., the fallout from Brexit culminated in the Dow Jones Industrial Average racking up a 600 point loss. Bloomberg’s Billionaires Index noted that the world’s 400 wealthiest investors lost a combined $127 billion in Friday’s market downturn.

“Brexit is the biggest global monetary shock since 2008,” said David Beckworth, a scholar at the Mercatus Center at George Mason University, in a blog post on Friday. “This could be the tipping point that turns the existing global slowdown of 2016 into a global recession.”

Beckworth also noted that risks stemming from the U.K.’s decision is “hastening the the frantic race to bottom on safe yields.” Safe-haven government bond prices have soared around the world, pushing yields to near-historical lows. Bond yields move inversely of prices.

Massive demand for safe-haven assets is outstripping supply, he added, meaning currencies like the yen and U.S. dollar, as well as government bonds and gold, are likely to keep booming.

https://www.rt.com/business-projects/348345-richest-people-losses-brexit/

Brexit-caused losses of the world’s 400 richest people amounted to an eye- watering $USD127.4 billion in a single day, Bloomberg estimates. Rich Britons have lost a “mere” $5.5 billion, according to reports.

The Brexit vote has sent European markets into the steepest decline since 2008. The pound plummeted to a record low, not seen since Margaret Thatcher was prime minister some 30 years ago.

The Bloomberg Billionaires Index says billionaires lost 3.2 percent of their total net worth, now estimated at $3.9 trillion.

http://www.theage.com.au/business/the-economy/china-could-be-the-biggest-winner-from-brexit-20160627-gpsm5v.html?google_editors_picks=true

The United Kingdom’s vote to exit the European Union is creating a lot of losers: London’s finance industry. British Prime Minister David Cameron. The pound. The grand cause of European integration. But out of all of the market turmoil and uncertainty will emerge at least one big winner: China.

In the short term, of course, China’s struggling economy may take a hit from the chaos in the EU, its second-largest trading partner. A smaller, less-stable European market and more cash-strapped consumers aren’t good news for Chinese exporters. Over the longer term, though, Brexit is almost certainly in China’s economic and political interests.

———

there are always winners and losers..you cant have winners without losers..

“The United Kingdom’s vote to exit the European Union is creating a lot of losers: London’s finance industry. British Prime Minister David Cameron. The pound. The grand cause of European integration. But out of all of the market turmoil and uncertainty will emerge at least one big winner: China.”

the sun did rise though..so life goes on..

“Brexit is the biggest global monetary shock since 2008,”

possibly..

“Worldwide markets hemorrhaged more than $2 trillion in paper wealth on Friday”

more to come..

401

~ by seeker401 on June 28, 2016.

12 Responses to “Brexit cost investors $2 trillion..the worst one day drop ever..China could be the biggest winner”

  1. British Pound falls to 30-yr low against US dollar

    https://www.rt.com/business/348536-pound-markets-drop-rating/

  2. http://www.zerohedge.com/news/2016-06-27/10-ways-uk-could-leave-eu

    wonder how many years will it take & in what way/form/shape “leaving” takes.. it might be years/decades before they decide.

    that;s why i say this brexsh#t is pre-planned

    -+–

    Boris Johnson “The only change – and it will not come in any great rush – is that the UK will extricate itself from the EU’s extraordinary and opaque system of legislation: the vast and growing corpus of law enacted by a European Court of Justice from which there can be no appeal. This will bring not threats, but golden opportunities for this country – to pass laws and set taxes according to the needs of the UK.”

    http://www.zerohedge.com/news/2016-06-26/boris-johnson-emerges-explains-what-only-change-result-brexit-will-be

    This means the puppets have been given an order by the elites to not trigger article 50 of the Lisbon treaty and nothing will ever change.

    The jobs will keep being outsourced, the refugees will keep coming, …NOTHING will change until the elite are eradicated!

  3. The British Empire could come back – looking forward to that New Zealand lamb stew my mother brought me up on and cheap wool from Australia

  4. Reblogged this on UZA – people's courts, forums, & tribunals and commented:
    How ironic when in fact the world is operating under foreclosure bankruptcy; a debit is a credit; money is merely an IOU; trading is rigged; and, as a result, a workman is no longer worthy of his hire; its all a scam to keep our attention from the remedy: a jubilee and reset; sooner or later the world will have to FEDEXIT: exit the federal reserve Ponzi scheme; in peace

  5. https://fightnwo2010.wordpress.com/2016/06/28/all-armed-americans-to-be-detained-in-fema-camps-starting-in-2017-video-by-kelly-gray/

  6. The 2 weeks before markets rose for about the same amount. Rinse and repeat.

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