#Brexit vote is now VOL. RIP European Union.

Circuit Breakers Could Be Tripped at U.S. Market Open

With S&P 500 index futures down more than 3% in premarket trade, some are speculating the marketwide circuit breakers could be tripped at the U.S. open. But it would take a bigger fall than that to halt trading in the entire market. A 7% drop in the S&P 500 from Thursday's close would trigger a 15-minute trading halt, and a 13% drop would trigger another such halt. If stocks drop by 20%, trading would be halted for the rest of the day. Futures show the S&P 500 index opening around 2032. The index would have to sink to 1965.38 for the level one halt, 1838.58 for the level two halt, and 1690.65 for the level three halt, according to Nasdaq.
(http://www.nasdaqtrader.com/trader.aspx?id=CircuitBreaker)

Ben Eisen writes from New York.
 
HTG Designs said:
Im not versed on all this stuff, but how this affect us? I know with globalization, the destabilization of currency such as the euro can have a ripple affect but will it at this point?
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Federal Reserve Statement on Brexit

"The Federal Reserve is carefully monitoring developments in global financial markets, in cooperation with other central banks, following the results of the U.K. referendum on membership in the European Union. 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."


Here's How it Could Get Out of Hand

The risk for the U.S. financial system is that large swings in stock, bond and currency prices could trigger heavy losses for some market participants, potentially setting off a cascade of forced selling of assets into already volatile markets that are less liquid because banks have dialed back trading activity in recent years.

"The risk is that any time important asset prices move markedly, you learn something about somebody's balance sheet," said Vincent Reinhart, chief economist at Standish Mellon Asset Management, a fixed-income division of BNY Mellon's asset-management business. "That's why there are elevated risks."

Mr. Reinhart, who previously worked at the Federal Reserve for over two decades, noted however that the latest stress test results for 33 of the country's largest banks indicate the institutions can withstand a severe scenario. "This suggests that U.S. markets have a significant buffer to absorb the shock," he said. "Markets will be illiquid and trading ragged, but officials will be reassuring."

By Serena Ng
 
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These British cats gotta have something up their sleeve.  On paper and right now it looks like a huge L, but i'm sure these tea sippin British street cats plotted some type of scheme.
 
Cards93 said:
English cars are ****. Germany makes the best cars.
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Dudes been brainwashed by Top Gear.

Germany definitely have better cars than the English. Italy do as well, if you want to count the unaffordable supercars.
 
nom de guerre said:
Rafabio said:
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I'm not sure on the consequences but the fact that most of the ppl who supported this are about to die off should be terrifying :smh:
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I hope it becomes an eye opener for the American youth, as many of them are too apathetic when it comes to politics. It's cool to not care until you realize how many visa appoitments you're going to have to get for your next European summer tour.
 
TeamJordan79 said:
Why? If anything, the older folks have more perspective on whether it was better before they joined the EU. Sovereignty is underrated.
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How this effects the global economy is all I could think of. As I said I'm not sure at all how this impacts long term but its getting a lot of push back.

I'm somewhat of an ageist when it comes to political issues. Old voters in America mostly have conservative views unless it's about their medicare and other benefits. They lack foresight into the future and many of them are just one issue voters in general. I could be completely wrong and this could be greatest ever for Britain. It's still weird seeing them have such an impact. I want more young ppl to vote in general..
 
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Gry60 said:
 
nom de guerre said:
 I'm not sure on the consequences but the fact that most of the ppl who supported this are about to die off should be terrifying
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I hope it becomes an eye opener for the American youth, as many of them are too apathetic when it comes to politics. It's cool to not care until you realize how many visa appoitments you're going to have to get for your next European summer tour.
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100% agree America cannot make a similar mistake
 
TeamJordan79 said:
Why? If anything, the older folks have more perspective on whether it was better before they joined the EU. Sovereignty is underrated.
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The old folks in UK are way too traditional/conservative. Mentally they are still like "UK against the world" "we are an island, we don't need anyone else". They think that their empire is still the greatest and it can do anything on it's own.  

These people are backward. 
 
soon the consumers in the EU will need to pay custom fees if they order products from UK retailers
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Rolaholic said:
When did England become Germany? :lol:

Just spitballing right now,but I wonder how much of a factor the fact that Germany and France are the 2 most influential and powerful countries in the EU and in European affairs,had in pushing this Brexit vote? The older voters I'm sure must still be nostalgic about the days of the Empire and are probably salty about their current position in the global orde :lol:
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They beat germany in two world wars and germany is more powerful and influential. Of course it's part of all of this.
 
Does LDN still have the banking power equivalent to NYC? Does anyone have a youtube video that explains global banking for that matter?
 
I would agree that the British Empire and the legacy of Britain being a military superpower is an essential part of the British national identity and sort of shows in areas that have nothing to do with it, like footie chants about "two world wars and one world cup". English people are usually proud of their history and I think one of the results is an understanding of GB being the superior nation in Europe. To oversimplify, they're rulers, not people being ruled by others. Everyone who tried to rule them failed - the Roman Empire and Nazi Germany among others.

Of course that's just my outsider's view but I've lived in England for a year and my sister is married to an Englishman. I love the country and the people. But to me it was always strange that the Brits always referred to continental Europe as just Europe as if they weren't really part of it. I guess that's become at least politically accurate today... 
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