On June 24th, Britain unexpectedly voted to leave the European Union causing widespread chaos in the global markets. Today, we decided to look back on the past six weeks to review what impact Brexit has had on the currency, stock, and commodity markets.
According to the follow infographic by BrokerNotes, the Brexit vote wiped $2.1 trillion off of global shares on June 24th alone. Among the biggest winners were mining and oil companies, while the losers mostly included banks, airlines, and house building companies.
Of course, one of the most significant outcomes of Brexit was the catastrophic fall of the pound, which fell from 1.49 to 1.29 USD following the vote. This marks the lowest the pound has traded at since 1985.
Finally, with so much uncertainty surrounding what happens next, many investors chose to move their money into safe-haven metals such as gold and silver, causing the price of these metals to skyrocket. Meanwhile, commodities like oil, base metals, and grains fell in price – likely due to the uncertainty around how the vote will affect them being traded.
Infographic courtesy of BrokerNotes
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