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Midday Market Update

Stocks Continue to Slide Monday after Brexit

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U.S. Market
U.S. stocks were down big midday Monday, for the second trading session after the United Kingdom voted to to leave the European Union. 

At midday the Dow was down 1.8%, while the S&P 500 fell 2.0%, and the Nasdaq lost 2.7%.

Stocks on the Move
European banks continued to slide.  Barclays PLC (BCS) was off 20.9%, and  Lloyds Banking Group PLC (LYG) was down 17.1%

Shares of Heartware (HTWR) jumped 92% today after medical device firm  Medtronic PLC (MDT) said it would acquire the company in a deal valued at $1.1 billion. Medtronic stock was down 1.4%.

Foreign Markets
European stocks were deep in the red. The FTSE 100 lost 2.6%, and Germany's DAX and the Paris CAC shed 3.0%.

Asian markets were mixed. The Shanghai Composite gained 1.5%, the Nikkei 225 was up 2.4%, while the Hang Seng shaved 0.2%. 

Karen Wallace does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.