Dow down 221
Nasdaq down 90
S & P down 42
EUR/USD – 1.449
I’ll keep you all updated on the latest.
UPDATE: Vote remains open, so at this point votes can change. Let’s just put it this way, the markets did NOT react nicely to the outcome.
Implications of a permanent Nay vote:
– Stocks will fall from one global center to the next
– Flight into Gold
– Flight into T-billls
– Sell Risk Aversion Trades (Yen crosses, emerging markets)
– US dollar move is unknown as risks continue globally
– Fed/Central Banks will need to pump liquidity in the market
– Look for the next potential bank failure from anywhere in the world
– Recession getting worse
– ECB has to make a call soon.