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Markets Recover Somewhat From Brexit Shocks

  • VOA News

Traders work on the floor as a screen displays the Dow Jones Industrial average just after the opening bell at the New York Stock Exchange (NYSE) in New York City, New York, U.S. June 28, 2016.

Traders work on the floor as a screen displays the Dow Jones Industrial average just after the opening bell at the New York Stock Exchange (NYSE) in New York City, New York, U.S. June 28, 2016.

Global markets saw stock and oil prices rise in Tuesday's trading,following two days of turmoil and sharp losses sparked by Britain's vote to leave the European Union.

Analysts calculated that the torrent of losses had wiped out $2 trillion in wealth in a few days of fearful trading.

For many investors, the chance to buy stocks at a lower-than-usual price outweighed the worries that the major uncertainties about Brexit will hurt the British economy and ripple around global markets.

On U.S. markets, the S&P 500 gained 1.8 percent, the Dow rose around 1.6 percent while the NASDAQ moved up more than 2 percent.

London's FTSE rebounded 2.6 percent, Germany's DAX regained 1.9 percent, and Frances CAD 40 jumped nearly 2.6 percent.

Oil prices also recovered some ground.

Some material for this report came from Reuters.

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