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FA Center: Brexit anniversary shows why panic selling is a loser’s move

Do you remember what triggered a major global stock market panic two years ago around this time? Don’t be too hard on yourself if you have no recollection. Hardly anyone I ask knows the answer.

The answer is the “Brexit” referendum that took place on June 23, 2016, in the United Kingdom, when British voters unexpectedly voted in favor of the U.K. leaving the European Union. Stock markets around the world plunged in panic reaction. From where it was trading before the result was known, to just two trading sessions later, the Dow Jones Industrial Average DJIA, +1.31% fell almost 1,000 points.

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