Watershed Vote Ruins S&P 500 Week Though Bulls Elude Armageddon
- S&P 500 down 1.6% after Friday erased gains in prior four days
- Investors see U.S. as best place for return on investment
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British secession left investors from Europe to Asia scrambling to tourniquet losses amid plunging equity prices. Viewed from a wider lens, however, the bludgeoning looks more like a blip for U.S. investors.
After futures plunged more than 5 percent in the darkest hours of Brexit drama early Friday, the S&P 500 Index reverted, erasing nearly half of its losses by the time exchanges opened. Because it rallied 2 percent in the four days leading into the vote, the index finished the week down just 1.6 percent, compared with losses double those in other developed-world markets.