Right now many Americans are watching the fall out as Britain exits from the European Union. One investment advisor in Overland Park, Kansas broke down the details on what this means for the average American and their investments.
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"The Dow Jones was down 700 points, the S & P down 100 points. It's been a long, long time, several years since we have seen that. Both so far have rallied a little bit," explained Chris Butler, investment advisor at Butler, Lanz and Wagler, L.C.
Butler said industries affected in Europe will likely be hit hard here as well. This includes commodities, oil and banks.
"I do think since banks are strong hammered the most you will see some incredible opportunities develop. That's how investors should look at it. It doesn't directly have to do with our economy," said Butler.
Currently, the American markets show the S&P down about 2.6 percent, the Dow about 2.4 percent and the Nasdaq just under 3 percent. But they already have rebounded from what the bleak futures markets were predicting.
Butler said if American markets finish the day where they are now, people will notice their investments not doing well. He said this is a great time to look for opportunities because many stocks are cheaper than they were even a day ago.
The White House has released a statement saying the EU and UK are important trade partners and that the US will continue to work with both.
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Belinda Post can be reached at belinda.post@kshb.com.
