The markets have reacted very swiftly following the EU vote and the headline writers have followed suit with dire warnings of investment and currency meltdowns – whilst we do not know exactly what the future will hold, the reality is that the FTSE 100 index has ‘plunged’ to levels not seen since…… well actually the middle of June, and before that the market was 500 points lower at times in January and February 2016. Sterling is a little more volatile and has definitely been hit hard against the US dollar, although not so much against the Euro and is at an average level for 2016 as I write. So whilst we are undoubtedly in for a bumpy ride, you should perhaps not take the dramatic headlines at face value and read them in a wider context.
Investec have issued the best succinct and reassuring press release that I have read so far, which I attach for your information and there are many other commentaries available online.
So don’t panic, keep your head, take deep breaths and keep a look out for investment opportunities.