The pound plunged and world stock markets slumped Friday after Britain's shock vote to leave the European Union, fuelling a wave of global uncertainty. / AFP / LEON NEAL
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Global markets buckled as Britain's vote to leave the European Union drove the pound to the lowest in more than 30 years while sparking demand for haven assets from U.S. Treasurys to gold.The Dow Jones Industrial Average fell 540 points, or 3 percent, led by a plunge in bank shares. European stocks bore the brunt of the carnage, with the Stoxx 600 Index sliding 7 percent in its worst day since October 2008 . Treasury yields had their biggest drop in more than four years and gold rallied above $1,300 an ounce.Trading volume in S&P 500 shares was nearly double the 30-day average for this time of day.Banks plunged after rallying the most in five weeks Thursday, with Citigroup Inc. down 8.1 percent. JPMorgan Chase & Co. and Goldman Sachs Group Inc. lost more than 5 percent. Caterpillar Inc. and Boeing Co. sank at least 4.5 percent after pacing the Dow's biggest gain in three months Thursday.
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