A weekend has passed since the UK voted to leave the EU and the unexpected result has begun sinking in amongst investors. The USA stock exchanges fell 3-4%, London by 3.2% and around Europe the markets fell between 6 and 13%.
Sweden’s public holiday on Friday meant the Stockholm index avoided the immediate chaos on the stock market. However trade is expected to be intense today and the initial drop could be around 4%.
Nasdaq decided to call a state of emergency on the derivatives market before opening on Monday, a measure last taken after the Lehman crash in 2008, to facilitate trade continuing as usual during the current circumstances. Joakim Bornold, economist from Nordnet, says, “This sends a very strong signal from Nasdaq and shows concern about how the market will look on Monday.”