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Brexit: Carnage on Australian market as $50b in shares lost, dollar slumps
More than $50 billion in shares has been wiped out on the Australian share market and the dollar has tanked after results showed Britain choosing to leave the European Union. The BBC has results showing 52 per cent for Leave and 48 per cent for Remain. Investors fled in droves after the news, with the ASX 200 extending losses to drop 3.5 per cent to around two-and-a-half-month lows of 5,095 while the All Ords slumped 3.3 per cent to 5,184. The market earlier started to sell-off when the Leave campaign overtook Remain, indicating high volatility as investors face uncertainty. Every sector on the local market was in ... (full story)
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