What does Brexit mean for Kentucky?
LEXINGTON, Ky. (WTVQ) – If you have a 401k it probably took a hit. The stock market has suffered its biggest loss since August after the United Kingdom overwhelmingly chose to separate from the European Union.
The vote is being referred to as “Brexit.”
The news caused hysteria among investors and international markets. U.S. stocks closed with heavy losses as they did around the world.
Traders dumped riskier assets that appeared to have the most to lose from disruptions in financial flows and trade, much of the reaction fueled by uncertainty.
Even though this happened across the Atlantic, it already is having a far reaching impact here on your money and on American companies doing business overseas.
Watch the video to find out more.