Friday, Jun. 24, was a day that many of us had a rude awakening. The post-Brexit landscape seemed bleak, with worries of the sweeping implications for the future as this referendum played out. What followed next was the largest sell-off in 10 months for the S&P 500, with single-day volumes at the highest in nearly five years. When looking at sector performance, financials led the downside.
The purpose of this piece is not to pontificate on whether it was the right or wrong outcome, nor is it to predict what the future will look like for the UK and EU; and this piece will not forecast where global markets will trade as Brexit is digested.