Global stocks plunge after British vote

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LONDON, ENGLAND - JUNE 24: Leader of UKIP and Vote Leave campaign Nigel Farage arrives to speak to the assembled media at College Green, Westminster following the results of the EU referendum on June 24, 2016 in London, United Kingdom. The result from the historic EU referendum has now been declared and the United Kingdom has voted to LEAVE the European Union. (Photo by Mary Turner/Getty Images)

NEW YORK (AP) — Global stocks and the pound plunged after Britons voted to leave the European Union.

The Dow Jones industrial average dropped 611 points, or 3.4 percent, to 17,399 in heavy trading Friday.

The Standard & Poor’s 500 index fell 75 points, or 3.6 percent, to 2,037. The Nasdaq composite sank 202 points, or 4.1 percent, to 4,707.

It was the biggest drop for the Dow and S&P 500 since August and the worst fall for the Nasdaq since 2011.

Some European markets fell even more. France’s benchmark index lost 8 percent and Germany’s fell 7 percent. Britain’s fell 3 percent.

Bond prices rose sharply as investors sought safety.

The yield on the 10-year Treasury note dropped to 1.57 percent from 1.75 percent a day earlier, a huge move.

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