E uwrecker moment, re slides 72 paise, sensex 605 pts

1. EU wrecker moment: Re slides
72 paise, Sensex 605 pts

2. Contd…
As fears arose that Brexit could result in higher trade barriers and that
some more EU nations might follow in the UK's footsteps, stock,
currency and bond markets across the world plunged into turmoil and
investors sought refuge in safe havens like gold and US treasuries.
The sterling was pounded, losing over 10% against the dollar, its biggest
decline ever, to hit its lowest level since 1985. The euro fell 2%. Gold
soared by more than 8% to touch a two-year high of $1,358 before
easing to $1,307.
Asian stocks, including the Japanese Nikkei, saw their sharpest fall in 10
months.

3. Contd…
Indices in Germany and France slid 7-8% while the London Stock
Exchange's Footsie, after plunging 10% at one point, closed 3% in the
red. The Dow Jones was 506 points, or nearly 3%, down in afternoon
trades in the US.
At home, the sensex slumped 1,100 points before ending down 605
points, or 2.2%, after RBI governor Raghuram Rajan promised to
maintain stability and stamp out volatility . The rupee slid 1.42% to
below 68 to the dollar -the sharpest since November 2013 -but
recovered a little to close at 67.97, a loss of 72 paise from its previous
close of 67.25.

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