Brexit Shock Gave Wall Street Its Worst Day In 10 Months

Britain's decision to leave the European Union caused the value of the British pound to plummet and gave Wall Street its worst day in 10 months on Friday. A massive sell-off caused the S&P 500 to lose all its gains for 2016, making it negative for the year to date, with only high-dividend-paying utilities ending Friday's trading profitably. Market watchers expect sales to take a while to stabilize, and suggest that this turn of events will confirm the Federal Reserve's decision to hold off on an interest rate hike for the time being.

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