5 Wide-Moat Stocks Now Selling at a Discount
When markets sell off indiscriminately, we look for the highest-quality bargains.
In the days leading up the historic referendum on whether the U.K. would remain in the European Union, most market observers were betting on a "stay" vote. So much so, in fact, that when all the ballots were counted on June 23, and it was revealed that Brexit had prevailed after all, global markets were gobsmacked.
European markets plunged. The FTSE 100 shed 3.2%, Germany's DAX fell 6.8%, and the Paris CAC lost 8% on June 24. Asian markets were also roiled, with the Nikkei 225 plunging 7.9%. We couldn't escape global markets' pain on this side of the pond, either, as the Dow Jones Industrial Average plummeted more than 600 points, losing 3.4%.
Karen Wallace does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.