Closing Bell: Ford Tumbles on U.K. Turmoil; 'Brexit' Bruises Stocks

Wall Street entered panic mode after a pro-'Brexit' vote sparked worries over political and economic instability across the pond. Volatility spiked, while the S&P 500 slipped into the red for 2016. Currency volatility brought on by the 'Brexit' results punished crude oil prices. West Texas Intermediate endured losses of nearly five percent, settling near session lows even after a weekly read on active U.S. oil rigs showed the first decline in a month. Traders rushed from risky investments such as equities to safe-haven assets including gold. That benefited those in the industry, including Barrick Gold (ABX) , Newmont Mining Corp (NEM) - Get Report , and Eldorado Gold (EGO) - Get Report which all ended higher. Ford (F) - Get Report was another casualty of the U.K. vote. The U.S. automaker said it would take whatever action is needed to keep British competitiveness alive.