US Stocks Plunge After British Vote To Leave EU

NEW YORK (CBSNewYork/AP) — Stocks took a plunge worldwide Friday after Britain voted to leave the European Union.

The Dow Jones industrial average dropped 611 points, or 3.4 percent, to 17,399 in heavy trading Friday.

The Standard & Poor’s 500 index fell 75 points, or 3.6 percent, to 2,037. The Nasdaq composite sank 202 points, or 4.1 percent, to 4,707.

It was the biggest drop for the Dow and S&P 500 since August and the worst fall for the Nasdaq since 2011.

Some European markets fell even more. France’s benchmark index lost 8 percent and Germany’s fell 7 percent. Britain’s fell 3 percent.

Bond prices rose sharply as investors sought safety.

The yield on the 10-year Treasury note dropped to 1.57 percent from 1.75 percent a day earlier, a huge move.

Read more and see the video at CBSNewYork.com.

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