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Brexit and the Australian economy
Deloitte blog post
Financial market shock
Britain’s monumental vote to leave the European Union had an immediate impact on financial markets, including Australia’s.
Our share market fell by 3.2%, reflecting the large shift in sentiment. However, it was only down 1.0% on the previous week, with much of the drop countered by the incorrect ‘bet’ that the UK wouldn’t leave. The market has since recovered and is now up on the week prior to the decision.
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