Apple touches $92.3 in pre-market post-Brexit trading

Fasten your seatbelts. It’s going to be a bumpy day.

In the context of a global market reset, how does Apple’s 4% drop in overnight trading compare? From Friday’s New York Times:

“The British pound plummeted by 10%, reaching levels not seen since 1985 — well below the value at the worst of the 2008 financial crisis. The euro dropped nearly 4%.

“Stock markets across Asia recoiled, with the major Japanese index, the Nikkei, down nearly 8%. As markets opened in Europe on Friday morning, the rout accelerated. Stocks in London were instantly down nearly 16%, shares in Frankfurt lost 10 percent, and the exchange in Paris was off 8%. Investors took refuge in the safest investments, bolstering the value of British government bonds and the Japanese currency.”

3 Comments

  1. John Kirk said:

    First, markets are not good predictors of what’s going to happen. Like weather vanes, they shift with every breeze and gust and have no idea which direction the wind will blow over the long term.

    Second, this is a way big overreaction because overreacting is what the market does. If you’re a short term investor, you can gamble and make (or lose) some money on the fluctuations. If you’re a long-term investor, now is probably a good time to increase your investments.

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    June 24, 2016

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