by Michael Covel
Daily Reckoning
After Brexit, you’d think by the 24/7 media blathering that anyone in the markets got wiped out…
The media reported that European stocks closed Friday with huge losses, with some seeing the steepest drop since 2008. Stocks in Asia and the U.S. also fell sharply, with the Dow Jones Industrial Average sinking 610 points.
According to Standard & Poor’s, more than $2 trillion of stock market value was wiped out, surpassing the turmoil of Lehman Brothers’ bankruptcy in 2008.