Sean Craig talks national effects of the UK’s vote

Posted on June 24, 2016
Sean Craig talks about the national effects of the UK's vote to leave the EU.
Sean Craig talks about the national effects of the UK’s vote to leave the EU. (WJBC File Photo)

By PJ Baron

The United Kingdom has voted to leave the European Union after being a member since 1973.

The vote took place Thursday and will have massive effects on the global community, particularly from an economic standpoint. Sean Craig of Investment Planners in Bloomington explained the market will bounce back, but it may take time.

“If you’re in it for the long haul, the market usually comes back. I don’t know how long this might take. Being on a Friday there will be a lot of news over the weekend and then you’ve got a five day full week next week, and then the fourth of July on Monday the fourth. There’s probably a lot to look at in the next ten days,” said Craig.

The vote has had an immediate effect on the US economy, which has been causing citizens to invest in areas that are more local than international.

“Right now we’re down about three percent. Right now gold is up about eight percent, bonds are doing pretty good. A lot of people are going to safety, which is gold and bonds right now,” said Craig.

British Prime Minister David Cameron also said he would be leaving office later this year, which causes even more uncertainty for the future of the United Kingdom.

PJ Baron can be reached at [email protected].

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