Brexit Uncertainty Impact Extends Far Beyond U.K. Economy
(Bloomberg) -- American and international companies most exposed to the uncertainty surrounding the U.K.’s exit from the European Union have reduced hiring and investment and lost a substantial fraction of their market value, according to researchers.
The paper published by the National Bureau of Economic Research shows that it’s not just British firms who are reducing spending as they brace for the country to sever ties with its largest trading partner.
“Firms expect difficulties from regulatory divergence, reduced labor mobility, limited trade access, and the costs of post-Brexit operation adjustments,” the report said.
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