UK Vote Affects The United States
JACKSON, Tenn. — It was a small margin with a huge impact.
The outcome of the historic referendum vote sent shock-waves around the world especially here in the United States.
Americans woke up to the news Friday that the United Kingdom had voted to leave the European Union.
So what does this mean ?
“Britain would once again be in control of the decisions made in the country instead of unelected bureaucrats in Brussels.” Professor of Political Science Sean Evans said.
Wednesdays news sent the global stock market into a frenzy.
Many people in the US were concerned it would jeopardize their 401-K plans but financial adviser Adrian Eddleman said more could be at stake.
“Whether it’s your 401-k plan or IRA or just a taxable investment, inevitably those investments have a lot more uncertainty in this moment than they did yesterday or the day before.” Eddleman said.
The United Kingdom has been one of the most important allies to the United States and that’s something President Obama says will not change.
Experts say the news could even impact the election in November.
“If the United Kingdom affects the world economy, that will affect the American economy and most people vote their pocketbooks.” Evans said.
There is one good thing to all of this, travel.
“Well it certainly means that if you have the opportunity to go to the united kingdom or even the rest of Europe, both the euro and the pound are down against the dollar at this time. So your dollar is going to be more valuable and can buy more goods and services.” Eddleman said.
He also said although the stock markets are down, they aren’t as low as they could be.
He also stressed this is a good time for people to evaluate their long-term financial plans.