The US and European stock markets stumbled again on Monday, following the UK’s shock vote to leave the European Union. In the US, the Nasdaq dropped more than 2%, the Dow Jones industrial average fell 1.5% and the Standard & Poor’s 500-stock index fell more than 2% before recovering some ground. London’s main FTSE 100 index was down 2.6% and Germany’s DAX over 3%. Ratings agency Standard & Poor’s stripped the UK of its last remaining top-notch credit rating on Monday, warning that more downgrades could follow. According to Standard & Poor’s Dow Jones Indices, Friday’s fall in share prices wiped out 2.08 trillion US dollars from global equity markets, the biggest one-day loss ever.
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