The vote across the pond has become a cause for concern here in the U.S, leaving Americans wondering how the ‘Brexit’ could affect the nation.
Friday, stocks took a nosedive; the Dow closing around 600 points.
A plummet driven by fears surrounding the United Kingdom's exit from the European Union.
“What the ‘Brexit’ does is increase uncertainty about the future of stability in Europe,” said Michael Desch, Professor of Political Science & co-director, Notre Dame International Security Center.
Causing stock markets to tumble, “not so much because the British withdrawal from the EU is going to have any direct effect on the global or U.S. economy, but more, it's a psychological response,” said Desch.
Desch believes the stock markets will bounce back.
“The consequences of the ‘Brexit’ will not turn out to be so catastrophic that it would harm the global economy in the long term,” said Desch.
Something else to consider is the parallel between the British sentiments to leave the EU and views of voters here at home.
“The degree to which the unpredictability we saw with the U.K. vote, really with the British or English vote, will be reflected in the U.S. presidential election,” said Elizabeth Bennion, Ph.D., Professor of Political Science, Indiana University South Bend.
Unpredictability that Bennion says analysts need to take a closer look at.
“Political pundits, most of the analysts thought that the U.K. would vote to stay in the EU, but with this vote, it shows that voters can surprise us,” said Bennion.
Donald trump has praised the ‘Brexit’ vote, tweeting:
“America is proud to stand shoulder-to-shoulder with a free and independent UK. We stand together as friends, as allies, and as a people with a shared history.”
In a statement, Hillary Clinton said:
"We respect the choice the people of the United Kingdom have made. Our first task has to be to make sure that the economic uncertainty created by these events does not hurt working families here in America."
Although the ‘Brexit’ may not directly affect who we choose as our next president, Bennion points out similarities.
“There may be some parallels in terms of public mood; an anti-establishment mood among some voters, an anti-immigration mood among some voters,” said Bennion.
Something she says could make things a little less predictable come November.
