British decision to leave EU affect Asian and other markets

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Published on: 24 Jun 2016 11:40 AM GMT
British decision to leave EU affect Asian and other markets
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New Delhi: The decision by Britishers to leave the European Union has caused panic in the share market all over the world. Bombay stock Exchange was not an exception. It lost 940 points soon after the opening. Soon the figure rose to 1000 points.

The major losers were Infosys, Tata Steel and TCS. Rupee was down by 96 paise against dollar.

Japan stock exchange, on the other hand, marked an eight per cent loss. British currency, Pond, reached a low witnessed 31 years ago.

The Indian share market is unlikely to recover soon. The position is likely to remain unchanged in next few years. Other Asian markets were also affected.

The decision is likely to create uncertainty about its growth and prospective investors. This may affect its economy which is the fifth largest in the world. Economies of other countries in Europe may be also hurt.

The vote, in any case, will hit the short-term growth. It might push it into recession which the country had faced a few years ago. The decision may also lead to cut in interest rates to zero.

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