Dow Jones up after Theresa May wins no confidence vote
Theresa May wins her second no-confidence vote in a month.
The Dow Jones is still going strong after UK Prime Minister, Theresa May, has won another no-confidence vote after her Brexit deal was defeated.
Theresa May and Wall Street survive turmoil
After the defeat of the Brexit deal, Labour leader, Jeremy Corbyn, brought a no-confidence vote against May. She survived this vote, just as she did a month ago. Wall Street rose after the news in December 2018, and the latest news seems to have calmed down investors worried about the UK drama.
After she won the vote 325-306, May vowed to continue to fight for Brexit and 'continue to work to deliver on the solemn promise to the people of this country to deliver on the result of the referendum and leave the European Union'.
Corbyn noted that there must be a deal in place before Brexit takes place in March.
'The government must remove clearly, once and for all the prospect of the catastrophe of a no deal exit from the EU and all the chaos that would come as a result of that,'said Corbyn.
How Brexit and May affect Wall Street
With May remaining as prime minister and the defeat of Brexit, there is stability on Wall Street, according to IG analyst, Kyle Rodda.
'Markets hate uncertainty, so this relieves that anxiety for now,' said Rodda.
While the Dow Jones is so far unaffected by the Theresa May no-confidence vote and the pound is rising against the dollar, there could be deep repercussions in the US if the Brexit deal isn't ironed out. Trade could be greatly impacted with high tariffs if the UK has to create trade deal separate from the European Union. While stability is calming Wall Street now, if Brexit isn't resolved in a neat and timely manner, global concerns can start to worry US investors.
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