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Stocks Recover from Brexit Woes
Stocks worldwide staged a strong recovery after the sharp decline due to the Brexit vote in the U.K. to leave the European Union. The investment markets seemed to conclude that the world economy will not implode, repudiating the proclamations of the doomsayers. Nevertheless, Brexit matters will continue to concern the investment markets for the rest of the year, if not for years hence.
For the week, the major U.S. and overseas stock indexes advanced around 3%. That was enough to move the averages from negative to mildly positive over the first half of 2016.