$2.08 trillion Brexit meltdown was markets’ biggest loss ever, worse than Lehman Bros and Black Monday

$2.08 trillion Brexit meltdown was markets’ biggest loss ever, worse than Lehman Bros and Black Monday NEW YORK — The $2.08 trillion wiped off global equity markets on Friday after Britain voted to leave the European Union was the biggest daily loss ever, trumping the Lehman Brothers bankruptcy during the 2008 financial crisis and the Black Monday stock market crash of 1987, according to Standard & Poor’s Dow Jones Indices. Global markets skidded following the unexpected result from Thursday’s referendum, in which Britons voted to withdraw from the EU by a 52 per cent to 48 per cent margin. Markets in mainland Europe were hit the worst, with Milan and Madrid each down more than 12 per cent for their biggest losses ever. Britain’s benchmark FTSE 100 was down nearly 9 per cent at one point on Friday, but rallied to close down 3.15 per cent.

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