Receive Breaking News updates as they occur
U.S. President Barack Obama said on Friday that he had spoken with British Prime Minister David Cameron about Britain's decision to leave the European Union and that he was confident the United Kingdom was committed to an orderly transition. "While the UK's relationship with the EU will change, one thing that will not change is special relationship that exists between our two nations," Obama said in a speech at a global entrepreneurs conference at Stanford University.
The S&P 500 turned negative for the year-to-date on Friday as Wall Street suffered its largest selloff in 10 months after Britain's decision to leave the European Union caught traders wrong-footed. In the busiest trading volume for a single session in nearly five years, financial stocks led the decline on the S&P 500 with a 5.4 percent drop -the largest for the sector since November 2011. The S&P 500 lost all the year's gains and suffered its largest decline since late August last year.