The British are leaving! The British are leaving! In a 51.8% to 48.2% vote, the citizens of Great Britain have decided to leave the European Union and the aftermath has caused quite a financial commotion. Markets across the globe are in a state of volatility, generating far too much uncertainty than investors want. Global markets are plummeting, shares of UK banks are dropping in price, British jobs may be declining, and traveling from Britain to EU nations might be difficult.
Investors had many different thoughts on Brexit. Let’s take a look at some of the more interesting comments made:
To start off, user EveryTimeICash put the crying Jordon meme onto a chart to show the decline of the British Pound today:
@1Simpletrader #Brexit be like... $GBPUSD $SPY
— Wolfe (@EveryTimeICash) Jun. 24 at 02:18 PM
David Moadel also had a snarky comment pertaining to the British Pound as well:
$EWU #Brexit summed up in one picture... $SPY $GBPUSD
— David Moadel (@davidmoadel) Jun. 24 at 02:50 PM
John Good was one notable individual who is quite bullish:
#brexit Why was UK in the EU in the first place? They never participated in the Euro. And now that they are gone, no one will miss them...
— John Good (@OneTwit) Jun. 24 at 02:20 PM
#brexit = no financial ramifications outside the UK, just another inconvenience with an unnecessary geographical border crossing...
— John Good (@OneTwit) Jun. 24 at 02:22 PM
User CapitalistTrader, on the contrary, warns people that the people like Mr. Good who are bullish are not properly evaluating the situation:
BEWARE any talking head on TV that says #BREXIT is meaningless. The ramifications have only just started. INVEST ACCORDINGLY. $
— Capitalist Pig (@CapitalistTrader) Jun. 24 at 02:05 PM
That comment prompted Mr. Good to respond:
#Brexit IS meaningless. Only negative impact is on the UK. All the negative brexit hype has created buying ops galore!!!
— John Good (@OneTwit) Jun. 24 at 02:06 PM
Despite Mr. Good being very active on social media advocating for people to be bullish, many people were bearish:
Its still quite strange that the #Brexit propaganda of leaving was based upon diverting funds to specific causes and now its not the case.
— Sanish Wali (@wsanish) Jun. 24 at 01:57 PM
A 30% drop in $SPY would take it to 1435. That's my target for 2016 or early 2017. Another black swan will hit soon. Worse than #brexit ??????????
— BDF_NYC (@BDF_NYC) Jun. 24 at 01:49 PM
$SPY will take some time for dust to settle from #Brexit. Breaking 200 is a certainty. Take that to the bank.
— ABD (@SonoftheMarket) Jun. 24 at 02:25 PM
Final Thoughts
It’s only Day 1 of life after Brexit. The beginning of next week is when things will get more interesting. There is far too much uncertainty and there are far too many unknowns to account for moving forward. Currently, Great Britain is really feeling the effects of leaving the EU, while the Dow, Nasdaq, and S&P all had poor trading days, closing on the day down 3.39%, 4.12%, and 3.6%, respectively.
This is only the beginning of global volatility, and all we can do is have the optimism of Mr. Good.
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