# World stocks in freefall as UK votes for EU exit

> Britain voted to leave the European Union, and global risk assets sold off sharply as investors moved into government debt, the yen and gold. The pound collapsed by about 18 US cents to its lowest level since 1985, and the euro fell 3.2 percent to $1.1012.

- Date: 2016-06-24 · published 2016-06-24T12:00:00.000Z
- Category: macro · region Global · magnitude high
- Page: https://feedsoft.ai/events/6954-world-stocks-in-freefall-as-uk-votes-for-eu-exit
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A sharp drop in sterling and the euro against a firmer dollar makes US feed ingredients more expensive for European and UK buyers in local currency and can weigh on dollar-denominated grain and oilseed prices. Safe-haven flows also raise near-term volatility across commodity markets.

## Read by commodity

- DXY: bullish ▲
- EURUSD: bearish ▼
- GBPUSD: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| EURUSD | 2016-06-24 | 1 | -2.2% | -4.6 | The UK vote to leave the EU triggered a global risk-off move in which the euro fell about 3.2% intraday, directly driving the one-day drop. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2018-08-10 | [Turkish currency's freefall rocks world equity markets, euro](https://feedsoft.ai/events/11060-turkish-currency-s-freefall-rocks-world-equity-markets-euro.md) | -1.5% | +0.1% |
| EURUSD | 2016-06-24 | [European stocks plummet on Brexit vote; DAX, CAC slides 10%, pound falls](https://feedsoft.ai/events/6960-european-stocks-plummet-on-brexit-vote-dax-cac-slides-10-pound-falls.md) | -3.0% | -3.6% |
| EURUSD | 2019-09-03 | [Sterling falls before Brexit vote, euro down on rate outlook](https://feedsoft.ai/events/12334-sterling-falls-before-brexit-vote-euro-down-on-rate-outlook.md) | +0.6% | -0.8% |
| EURUSD | 2025-03-20 | [EUR/USD weakens as Fed sees no rush for interest rate cuts](https://feedsoft.ai/events/25794-eur-usd-weakens-as-fed-sees-no-rush-for-interest-rate-cuts.md) | -0.9% | +4.6% |
| EURUSD | 2016-06-24 | [Surprise Brexit vote unleashes scramble for dollars](https://feedsoft.ai/events/6956-surprise-brexit-vote-unleashes-scramble-for-dollars.md) | -3.0% | -3.6% |
| DXY | 2018-08-10 | [Turkish currency's freefall rocks world equity markets, euro](https://feedsoft.ai/events/11060-turkish-currency-s-freefall-rocks-world-equity-markets-euro.md) | +1.1% | +1.1% |
| DXY | 2023-09-27 | [Why the pound is in freefall – and what it means for Sunak](https://feedsoft.ai/events/34357-why-the-pound-is-in-freefall-and-what-it-means-for-sunak.md) | +1.1% | +1.1% |
| DXY | 2023-06-23 | [Stocks fall, dollar up as investors weigh more rate hikes \| Reuters](https://feedsoft.ai/events/35674-stocks-fall-dollar-up-as-investors-weigh-more-rate-hikes-reuters.md) | +0.6% | -0.7% |

## Sources

- reuters.com: https://www.reuters.com/article/global-markets-idUSL8N19G11E/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.