Some in the media have led people to believe there was a collapse of the Stock market on news of Brexit. It is true dealers greatly widened prices for a bit before things settled down, with some silly low prices at the opening.
So what has in fact happened, now there has been a trading day to digest the news?
The FTSE 100 index hit a low of 5909 in September of last year, rallied, and hit another low of 5536 in February. This was all before the intense Brexit campaign and news coverage of Brexit. These movements were also in line with other major world markets, that also sank in the first weeks of 2016.
This week, the week of most intense news and market focus on Brexit, the market ran upwards, reaching 6138 on Wednesday. It closed at exactly the same level, 6138 on Friday. It is true that on Thursday it spiked upwards to 6334 when markets expected a Remain win, and fell back to the Wednesday level on Friday when Leave won.
The surprising things about the FTSE given the alleged mood are that 1. It has risen a lot over the referendum period 2. Its correction on Friday was modest.