Opening Bell: U.S. Stocks Slide on Brexit Vote as Investors Flood Safe Haven Assets
U.S. stocks slid on Friday, after UK citizens voted to leave the European Union in a historic referendum. The three major indexes opened lower by over 3 percent. The pound sterling also fell almost 6 percent against the dollar to $1.37, while the dollar lost 2.6 percent against the Japanese yen. The Bank of England made $345 billion available to refuel British markets. BOE Governor Mark Carney called the Brexit a 'period of uncertainty and adjustment.' 'The idea that Europe can actually survive a Brexit and walk away unscathed - I think there's a big question market around that,' said Michael Ingram, a market analyst with BGC Partners, based in London. Meanwhile, banks such as HSBC HSBC, UBS UBS and Deutsche Bank DB fell over 10 percent, while Bank of America BAC slipped 7 percent stemming from Brexit uncertainty. TheStreet's Scott Gamm reports from Wall Street.









