Post Brexit: German economy slumps worse than UK after referendum vote
HYSTERICAL German investors were panicking as their stock market fell harder than the UK FTSE100 after the world-changing Brexit decision.
The German Stock Index has fallen since the monumental vote
The president of the Federation of German Wholesale, Foreign Trade and Services, Anton Borner, said: “Brexit has happened in a time of uncertainty. That is poison for the economy.”
Germany’s traders are questioning the future
The German index known as the Dax fell 1,000 points after the Brexit vote
It was clear in the financial centre of Frankfurt that the day following Brexit was not an ordinary day for the stock markets and the loss there would go down in history.
David Cameron announced his resignation following the result
Stock prices were also low in London and Asia as the Euro and the pound plummeted in value.
Germany is worried about the future following the shock vote
The Brexit vote followed a sharp rise in the stock market the immediate days before it.
Although, the experts do not believe that the historic vote would lead to a global stock market crash, they do foresee far-reaching economic consequences and a possible devaluation in the euro.
German industry is particularly concerned about any affects on trade with the UK, which is its third-biggest export market.
Chancellor Angela Merkel is now worried about Germany’s dominant role within the EU and the possibility of other member states to follow the UK out of the bloc.