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El-Erian on Brexit: The unthinkable has become reality

Yahoo Finance
Yahoo Finance

Stocks (^DJI, ^GSPC, ^IXIC) are tanking as investors digest news of the Brexit. Financials (XLF) are getting slammed the hardest, with utilities (XLU) the only sector in the green. Keith Bliss of Cuttone & Co. joins us live from the New York Stock Exchange, and Mohamed El-Erian talks to us about the aftershocks of this historic vote.

To discuss the other big stories of the day, Alexis Christoforous is joined by Yahoo Finance editor-in-chief Andy Serwer and Yahoo Finance's Melody Hahm.

Where to invest after the Brexit

Here are the questions every investor is asking today: Where do I put my money now? Do I pull out of stocks? Move into bonds? What about cash?

Brexit devastates young Brits

The Brexit vote has left many young British citizens devastated. The majority of young people supported staying in the EU, while their older counterparts were more in favor of leaving. However, according the Wall Street Journal, 19% of voters 18 to 24 said they wouldn't vote.

Why celebs with global exposure are angry

Social media erupted following the vote. Celebrities like James Corden and Harry Potter’s J.K. Rowling  lamented the loss, even apologizing to young Brits. Others, like Unilever CEO Paul Polman begged the country to respect democracy and unite. Entrepreneur Max Levchin even suggested redoing the referendum in a decade when millennials will make up a higher percentage of voters.