After Lehman Brothers fell over in September 2008, equities slumped, then rallied back to their previous levels within a week. Brexit isn’t Lehman, but the stock market is behaving similarly. In 2008, shareholders made an epic mistake: They assumed Lehman would be manageable. This time the assumption is that central banks will ride to the... The S&P 500 remains a little lower than it was immediately prior to the British vote to leave the European Union, but it is already back above where it stood the day before that.

Source: Wall Street Journal July 04, 2016 19:57 UTC