Photo: Michael Kappeler/DPA, MBR
Houston economists predicted another temporary dip in oil prices. Financial managers advised customers to buy long-term investments. And local students voyaging abroad celebrated newfound wealth.
Local analysts, business executives and civic leaders wrestled on Friday with the impact of "Brexit," which stunned global officials, roiled financial markets and sent the British pound plunging following the United Kingdom's vote to leave the European Union.
The Dow Jones industrial dove more than 600 points after similar routs in European markets, and oil suffered one of its biggest losses in weeks, falling 5 percent to settle in New York at $47.64. The pound lost an astounding 10 percent against the dollar, sliding to $1.35. The euro lost 3 percent, to $1.11.