The Dow Jones Industrial average plunged 500 points on Friday morning—the index’s biggest drop in 10 months — as markets around the world reacted to a vote by citizens of the United Kingdom to leave the European Union.
The Dow fell as much as 538.27 points and the S&P 500 dropped as much as 58.49 points in the first minutes of trading. The Dow Jones index recovered somewhat and was down about 375 points shortly after 10 a.m. E.T.
As America woke up to the news of the economic fallout following the UK’s vote, Wall Street girded itself for what could potentially be the biggest market-moving day since the 2008 global financial crisis…
Read the rest of the story from our partners at NBC News
More Must-Read Stories From TIME
- The Fight to Save the Salmon
- Inside the World of Black Bitcoin, Where Crypto Is About Making More Than Just Money
- The 'Great Resignation' Is Finally Getting Companies to Take Burnout Seriously. Is It Enough?
- Suddenly, Everyone on TV Is Very Rich or Very Poor. What Happened?
- Colin Powell Reflects on His Mistakes in Unpublished TIME Interview
- Business Travel's Demise Could Have Far-Reaching Consequences
- If the U.S. Spends Big on Climate, the Rest of the World Might Follow
Read More From TIME
