U.S. Stock Markets fall after Britain's vote to leave EU

U.S. Stock Markets fall after Britain's vote to leave EU

All eyes are on the U.S. stock market after Britain's historic vote to leave the European Union.

The British vote shook up financial markets around the globe on Monday, leading to sharp falls in stocks and the British pound.

The Federal Reserve says it is carefully monitoring developments in global financial markets.

In a statement it said, " The Federal Reserve is prepared to provide dollar liquidity through its existing swap lines with central banks, as necessary to address pressures in global funding markets, which could have adverse implications for the U.S. economy."

Dow was down more than 500 points after the U.S. Stock Market opening.

The S&P 500 and Nasdaq look set to plunge 3.5 percent.

In a statement from the White House, President Obama said:

The people of the United Kingdom have spoken, and we respect their decision. The special relationship between the United States and the United Kingdom is enduring, and the United Kingdom's membership in NATO remains a vital cornerstone of U.S. foreign, security, and economic policy. So too is our relationship with the European Union, which has done so much to promote stability, stimulate economic growth, and foster the spread of democratic values and ideals across the continent and beyond. The United Kingdom and the European Union will remain indispensable partners of the United States even as they begin negotiating their ongoing relationship to ensure continued stability, security, and prosperity for Europe, Great Britain and Northern Ireland, and the world.

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