For many sectors of the economy and markets, the unexpected Brexit vote has taken its toll, costing investors $2 trillion on Friday alone—the biggest one-day global market hit in history, CNBC reports. Stock prices continued to fall Monday, with the U.K.’s FTSE 100 index closing down more than 2.5% and the U.S. Dow Jones Industrial Average down about 260 points, or about 1.5%, just after noon.
• Banking stocks, especially U.K. banks, have been particularly hard hit, with Royal Bank of Scotland and Barclays shares touching prices unseen since 2009 and the world financial crisis, The Telegraph reports. British banks may lose their so-called “banking passport” enabling them to operate freely across the EU.
• The British pound continues to fall, touching exchange rates with the U.S. dollar not seen in 31 years, the Wall Street Journal reports. With prices hovering around $1.32, some analysts think the pound could fall another 15 cents this year.
• Japan’s push for export-friendly, cheap yen has been set back as investors fleeing the pound have sent the currency soaring, MarketWatch reports.
• Oil prices have continued to fall, slipping another 2% Monday, amid continuing post-Brexit vote uncertainty, Reuters reports.
But not every area of the market has investors suffering:
• Gold prices have risen since the Thursday vote, touching a two-year high as investors flee toward the safety of the precious metal, according to Nasdaq data.
• Bitcoin prices, too, have risen more than 10% since Thursday’s vote totals were announced, according to data from CoinDesk, as the cryptocurrency appears to offer investors a high-tech alternative to the perceived safety of precious metals.
• Shares in AT&T and Verizon have outperformed the market, staying roughly flat since the Brexit vote, as investors see the telecom companies as safe investments, Investor’s Business Daily reports.