Local advisor explains if “Brexit” will affect the U.S. economy

MYRTLE BEACH, SC (WBTW) – On Monday, financial advisor Baxter Hahn III, joined News 13 Now at 9 a.m. to talk about the vote for the United Kingdom to exit the European Union. The exit has been coined the “Brexit” to signify the British exit.

Hahn, who works at Wells Fargo Advisors in Florence, explained the real effects the “Brexit” may have on America – particularly on retirement savings and interest rates. Watch the interview for his insight.

You can also find an in-depth analysis on the Wells Fargo Advisors website at wellsfargoadvisors.com

The introduction to that analysis follows:

UK’s EU “Leave” Vote: Expect Volatility, Stay Invested

  • On Thursday, June 23, voters in the United Kingdom (UK) voted in favor of leaving the European Union (EU).
  • We believe that the outcome of yesterday’s vote will lead to long-lasting negotiations between the British government and the EU, and we expect periods of geopolitical, economic and global financial-market uncertainty in the coming months and years as a result.

What it may mean for investors

  • In the near term, we believe that the result of the leave vote will lead to heightened levels of market volatility. In this context, we highlight several implications for stocks, bonds, currencies and commodities. We also suggest prudent portfolio-management practices.

On Thursday, June 23, voters in the UK voted in favor of having their country leave the EU. In essence, British citizens have handed their government a mandate to begin proceedings that will eventually lead the UK out of the EU. Some investors may be wondering, “what now” following the buildup and global financial market disappointment with this week’s vote.

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