Today the stock market had a volatile down day across the globe due to Brexit the European Union. The DOW fell 600+ points. But the funny thing was that majority of stocks were still way above the lows they had made months ago. That’s how far the market had run up since then. The market was very overvalued. And I wasn’t even able to buy any of the stocks that I set my eyes on because they were still too expensive. Hopefully, I can load some stocks up next week.
The Brexit triggered a stronger dollar. It’s good news for Americans visiting Canada because 1 USD =~ 1.3 CAD. Also, 1 USD =~ 0.9 EUR and 1 USD =~ 0.73 GBP, which would make our European trip more affordable. On the flip side, some of the US companies might get squeezed due to their products being more expensive than before. I.e., AAPL, NKE, KO, MCD, etc. Also, 1 USD =~ 6.62 CNY, that might affect the number of rich Chinese students coming to the States for their higher education.
I don’t know what’s going to happen next Monday. Regardless, I’ll ignore the noises and stay on my course.