Dow Closed Down 600 after Britain Votes for Brexit

U.S. stocks plunged more than 3 percent on Friday to end in the red for the year so far after Britain surprised markets by voting to leave the European Union. The Dow Industrial Average plunged 611.21 points, or 3.39%, to close at 17,399.86, lost 1.6% over the week. The S&P 500 dropped 76.02 points, or 3.60% to close at 2,037.30, lost 1.6% for the week. The Nasdaq Composite plummeted 202.06 points, or 4.12%, to finish at 4,707.98 and declined 1.9% over the week.

After briefly plunging to its weakest level in more than 30 years, the pound trimmed its earlier losses to finish Friday at a more-than six year low against the dollar.At one point, the U.K. currency was down by more than 10% intraday to $1.3230, its weakest level since 1985.

Oil futures settled with a loss of almost 5% on Friday. August WTI crude settled at $47.64 a barrel on the New York Mercantile Exchange, down $2.47, or 4.9%. For the week, futures prices lost 0.7%.

J.P. Morgan Chase CEO Jamie Dimon said his financial behemoth saw record volumes in currency trading in the wake of the U.K’s unprecedented vote to exit the European Union.

President Barack Obama praised tech companies’ efforts to improve diversity in their workforces and called for governments around the world to embrace openness and transparency today at the Global Entrepreneurship Summit.

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