The much-anticipated Brexit vote will be held this Thursday, June 23rd, with polls showing an almost equal amount of people in favor of remaining as there are people in favor of leaving the EU. This has created an environment of uncertainty, leading people to search for alternative ways to secure their wealth.
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Brexit Brings Uncertainty
American companies and investors are not exceptions as they are not immune to the financial uncertainty that underlies the so-called “Brexit.” The UK is a large, globalized economy that provides profitable relationships all across the world. As such, the country’s problems relating to the referendum vote are in no way isolated problems, and any turmoil coming from the vote will certainly leave a global footprint.
This footprint would undoubtedly be noticeable in the US, and some believe that shares of US companies with a relatively high amount of reliance on British sales could face a dire future if the UK decides to leave the EU. In fact, there are 30 firms trading in the SP 500 that derive 10% or more of their revenue from