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Brexit and its implications for the global economy

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After a night of vote tallying, the final decision has been made: Britain will be leaving the European Union.

Beyond the uncertainty and chaos in Britain, this exit has massive global implications.

Friday morning saw a massive decline in all world markets.

The Dow fell 538.27 points in the first minutes of morning trading.

Huge losses were sustained in Europe where France’s stock market lost 8% and Germany’s almost 7%.

Japan’s Nikkei tanked 7.9%, and Hong Kong’s main index dropped 2.9%.

The price of gold spiked as investors sought a safety net while banks took the biggest hit as panic spread over perceived instability.

Admittedly, this is not a one-day event, but analysts are hopeful that initial panic will give way to optimism for new opportunities.