iStock/Thinkstock(NEW YORK) -- Wall Street and global markets tumble as they react to the U.K.'s decision to leave the European Union.
The Dow sunk 611.21 (-3.39 percent) to close at 17,399.86.
The Nasdaq tumbled 202.06 (-4.12 percent) to finish at 4,707.98, while the S&P dropped 76.02(-3.60 percent) to close at 2,037.30.
Crude oil sunk over 5 percent with prices hitting just over $47 a barrel.
Brexit: British voters have decided in a referendum to leave the EU, a decision that has stunned global investors who rushed to put their assets in "safe" spaces like gold and bond markets. It has caused Americans' 401(k)s to decrease in value temporarily, but because they are long-term investments they should be able to weather the storm in the long run.
Monkey Business/Thinkstock(MENDON, Mass.) -- Video showing a Dunkin' Donuts employee dropping a tray of donuts on the floor and then putting it back on a display rack for sale has been turning eyes -- and stomachs -- on Facebook.
The incident was recorded last November at a Dunkin' Donuts franchise in Mendon, Massachusetts, according to Liam Flaherty, a college student who said he used to work at the franchise. The video was posted to Flaherty's Facebook page this past Wednesday, and it had more than 71,000 views as of Friday afternoon.
Flaherty, 20, told ABC News Friday he only decided to publicly post the video to Facebook after becoming "fed up" and "frustrated" with the franchise's management, who he said hadn't been responding to his recent complaints. He explained that the employee seen dropping the donuts in the video was his manager.
ABC News is not identifying the manager.
"People ate those donuts that fell and touched the ground," Flaherty said. "And she was just OK with that."
The manager seen in the video declined to comment to ABC News Friday.
The Dunkin' Donuts franchise in Mendon, Massachusetts, did not answer ABC News' calls today, and its general manager and its owner did not immediately respond to ABC News' requests for comment.
In a statement to ABC News Friday, Dunkin' Donuts' global office said the company was "aware of the video" and that it takes "matters like this very seriously."
"The actions seen in the video at a franchised Dunkin' Donuts restaurant are absolutely inconsistent with our strict food safety standards and requirements," the company said. "According to the franchisee, upon hearing of this incident in November 2015, he investigated the matter and met with the employee to discuss the fact that the donuts should have been immediately disposed of in keeping with our standards."
In an additional statement, the company said: "At Dunkin' Donuts, food safety is a top priority and nothing is more important to us than the operation of clean and safe restaurants. We have been informed that the Mendon Board of Health visited the Dunkin' Donuts restaurant today for an inspection and no violations were found."
The statement continued: "Dunkin’ Donuts restaurants are independently owned and operated by individual franchisees who are solely responsible for their employees, including employment decisions such as schedules and wages. Franchisees are required to comply with all applicable state, federal and local laws, including but not limited to wage and hour laws and those governing health and safety."
A Dunkin' Donuts spokeswoman told ABC News Friday that the company was "unable to comment on franchisees' current or former employees."
Uber(NEW YORK) -- Uber is promising "no math and no surprises."
The ride hailing app announced in a blog post on Thursday it will soon let their passengers know how much their trip will actually cost before getting into a car.
"Imagine buying an airline ticket without knowing the full fare until the end of your trip. Or booking a hotel room online and being told that the real price would be 1.3X. Yes, that sounds odd -- but it’s what happens with many Uber trips today," the company said in its announcement.
The ride hailing app's previous approach would give riders a fare estimate, which could sometimes differ from the actual fare. If surge pricing was in effect, an additional price multiplier could complicate the process for some riders.
"Upfront fares are calculated using the expected time and distance of the trip and local traffic, as well as how many riders and nearby drivers are using Uber at that moment," the company said. "There’s no complicated math and no surprises."
Surge pricing during peak demand will still be in effect; however instead of a multiplier, passengers will be shown the total cost of the ride calculated to include the surge. A notice on the screen will let passengers know they're traveling during a busy time.
Uber has been testing the new system over the past few months in New York City, Philadelphia, Miami, San Diego, Seattle and parts of New Jersey, as well as several locations in India. It's expected to roll out the new system globally in the coming months.
The new pricing policy comes on the heels of the success of UberPOOL, a service that allows people to split the cost with another passenger going the same way.
"Knowing how much a ride will cost in advance is clearly something riders appreciate: today uberPOOL accounts for over 20 percent of all rides globally," a company blog post said. "And we now want more riders globally to benefit from this feature."
iStock/Thinkstock(NEW YORK) -- The so-called Brexit vote may seem far removed for most U.S. citizens, but the impact of Britain's exit from the European Union could affect Americans in more ways than one.
About half of the American workforce participates in a company retirement plan, according to an analysis of data compiled by the Pew Charitable Trusts. If this includes you, then you’re one of the tens of thousands of people whose investments are at risk from the market turbulence.
As Wall Street joins the global market selloff Friday, your 401(k) will decrease in value temporarily. The good news is that these retirement funds are long-term investments and should be able to weather the storm in the long run.
”No matter how old you are, we’re still looking to the markets to be going up ultimately,” Lauren Lyons Cole, a certified financial planner and personal finance editor at the International Business Times, said on a Facebook live video. “Today, [the markets] might be down 2 or 3 percent but that doesn’t mean you should sell everything – not by a long shot. You want to just keep steady and continue to watch it.”
American households and would-be homeowners will likely see mortgage rates and the cost of buying a house drop, at least in the short term. Investors are currently selling off riskier assets for safe havens, like U.S. Treasuries and gold. As demand for government debt soars, interest rates will fall, with the potential to cause mortgage rates to drop.
"In the short term, the move by Britain will unsettle financial markets both in the U.S. and abroad, and likely lead investors to seek haven in safe assets outside of the U.K. and Europe," said Boston College economics professor Robert Murphy. "With a spike in demand for safe U.S. Treasury bonds, yields are likely to move downward. And as investors shift into dollar-denominated assets, the dollar will gain strength against the euro and the pound."
The yield on the 10-year Treasury fell to 1.57 percent earlier Friday, according to Bloomberg Bond Trader data. The last time it was this low was in 2012 and mortgage rates followed suit.
The average 30-year, fixed-rate mortgage has also sunk to nearly a three-year low in the past month, hovering around 3.7 percent. Financial analysts expect the Brexit vote to drive down rates even further in the coming weeks.
“If you’re a borrower, don’t wait to lock your rate,” Greg McBride, chief financial analyst at Bankrate, told The Washington Post Friday. “As this opportunity may not last long.”
At the current average rate, you’ll pay roughly $462 a month in principal and interest for every $100,000 you borrow, according to Bankrate.
The U.S. dollar is surging in value in the exchange markets, which will drive up the cost for U.S. exports to the United Kingdom and elsewhere in Europe. This could bring down sales and profits for U.S.-based multinational companies, because the United Kingdom and the E.U. are huge export markets for the United States, totaling about $328 billion last year, according to the U.S. Census Bureau. Thirty firms in the S&P 500 generate more than 10 percent of their sales from the United Kingdom, according to data from FactSet Research.
"With the E.U. being its largest trading partner, any slowdown in Europe will weaken growth in the U.S. over the near term," said Murphy, a former economist with the Clinton Administration. “Longer-term consequences of Brexit depend on how quickly the process of negotiating new trade and financial arrangements between Britain, the E.U., and other countries takes place. This surely will take several years, meaning that negative economic consequences are likely to be felt for some time.”
Also, E.U. membership allows financial firms in the U.K. a “passport” to do business across the other 27 countries. That means American companies can do the same anywhere in the E.U. as long as they set up a branch or subsidiary in a member state. Forty percent of the world's top 250 multinational companies have their European headquarters in London, according to research by Deloitte. The loss of this “passport” will hit American businesses operating out of the U.K.
Your Vacation Plans
The International Monetary Fund has warned that a Brexit could force the United Kingdom into a recession. But as the British pound and other European currencies shed value against the U.S. dollar, that trip to London is looking more and more affordable. This means traveling to the United Kingdom and the rest of Europe will likely become considerably cheaper for U.S. citizens in the coming weeks.
Google(NEW YORK) — Voters in the United Kingdom have chosen to leave the European Union, but it seems some people in the country still feel confused about the situation.
Google Trends revealed what was on the minds of people in the U.K. as they searched for clarity around the so-called Brexit. After the polls closed Thursday night, Google reported a 250 percent spike in this question: "What happens if we leave the E.U.?"
That search for answers continued Friday morning as people in the U.K. searched for what happens next. The No. 2 most-searched question: What is the E.U.?"
Hotel Del Coronado(NEW YORK) -- The latest hotel trend doesn’t involve high-end bedding or a fancy spa treatment. The hottest thing this summer is cooling off in a pool -- wearing a mermaid tail.
Hotels from coast to coast are flipping for all things mermaid. At the Hotel del Coronado in San Diego, a new mermaid fitness class promises a “45-minute fusion of swimming, core, cardio and strength training set to upbeat music” -- all while wearing a mermaid tail.
The classes are held Friday mornings and cost $20, but are free with the purchase of a mermaid tail, which the hotel sells for $150. Turns out the tails were so popular with the kids that the hotel decided to sell them in adult size too.
In North Carolina, the Sanderling Resort in the Outer Banks also offers a mermaid class. The class, which is new this summer, takes place every Tuesday and Thursday and is an hour long. It includes mermaid tail fitting and rental, “proper care of mermaid tails,” instruction on breath control, fluid dolphin kick techniques to move through the water gracefully, tail smacking, hula hoop diving and mermaid posing, and mermaid “games and competitions.”
The Hawk’s Cay Resort in the Florida Keys was drowning in mermaid class requests, it seems, as the hotel’s Mermaid Academy is back this year by popular demand. Each class includes the tail rental or shark fin and an hour-long swim lesson. A one-hour session with the mermaid tail is $30 and $20 with the shark fin. A photographer will capture the session, and the mermaid tails and shark fins are available for purchase.
iStock/Thinkstock(NEW YORK) — The Dow Jones Industrial Average slumped 565 points Friday morning after Britain decided to leave the European Union.
Britain's unprecedented vote to exit the E.U. has stunned investors, pushing global markets and currencies into free fall.
From Europe to Asia to the United States, financial markets are showing panic over the so-called Brexit vote and the ensuing market uncertainty and volatility that it could unleash. Europe
Britain’s FTSE 100, the country's blue chip stock index plummeted as much as 8.7 percent before clawing back to a loss of 4.9 percent when the London stock exchange opened Friday after the vote to leave the bloc. The FTSE 250 plunged even further, by 12.3 percent, before recovering slightly to 7.1 percent.
The referendum vote also prompted Prime Minister David Cameron, who had campaigned for the United Kingdom to remain in the EU, to announce his resignation.
On the currency front, the British pound sterling took a nose dive to its weakest level in 31 years, as investors fled risky assets for the U.S. dollar and the Japanese yen.
The euro, the single currency shared by 19 of the EU member states, fell 2.89 percent against the dollar.
In stock markets across the English Channel, the pan-European STOXX 600 index was down 7.34 percent. France’s CAC index dropped to 8.6 percent. Germany’s DAX slid as much as 10 percent before recovering slightly to 7.04 percent. Spain’s IBEX 35 tanked to 12.39 percent. Asia
Investors reacted in Asia as well.
Japan’s Nikkei 225 saw its worst day since March 2011. The Japanese stock index ended down 7.92 percent Friday. The Japanese yen, however, strengthened as much as 7.2 percent against the dollar for the first time since November 2013.
On mainland China, the Shanghai composite slid 1.22 percent while the Shenzhen composite fell 0.76 percent. Hong Kong’s Hang Seng index ended down 2.92 percent. The offshore yuan, traded in Hong Kong, slid 0.8 percent against the dollar, while the onshore currency traded in Shanghai weakened 0.5 percent.
South Korea’s benchmark Kospi tumbled 3.09 percent. The Korean won shed 2.5 percent against the dollar.
iStock/Thinkstock(NEW YORK) -- Waking up to the news that United Kingdom voters chose in the so-called Brexit referendum Thursday to leave the European Union, many Americans turned to Google to figure out what comes next.
Google Trends reveals the top questions people in the United States have been asking since the announcement earlier Friday of the official results showing that 51.9 percent of voters chose to exit the E.U.
Here's are the top 10 questions Americans are asking:
iStock/Thinkstock(NEW YORK) -- Twilio -- the calling platform used by popular apps including Uber and Whatsapp -- surged in its Wall Street debut this afternoon.
While the San Francisco-based company may not have mainstream name recognition, chances are you've used their services.
Twilio makes communication software that helps companies communicate with their customers anonymously. For instance, when a customer wants to find out where their Uber driver is parked, they can message the driver without either party having to reveal their phone numbers.
Signing up for a new app or service may require two-factor authentication, such as a verification code sent to your smartphone. Many of those codes are sent via Twilio, which counts OpenTable and Airbnb among its clients.
Trading under the symbol TWLO on the New York Stock Exchange, the company's debut marks the first U.S. venture-backed IPO this year. Twilio announced a $15 per share price on Wednesday. The company's stock opened this morning up more than 60 percent, at $23.99, before surging to a high of $29.20 this afternoon.
iStock/Thinkstock(NEW YORK) -- Would you get into an automated self-driving vehicle, knowing that in the event of an accident, it might sacrifice your life if it meant saving the lives of 10 other people?
Autonomous vehicles (AVs), also known as self-driving vehicles, are already a reality. Initial guidelines from the National Highway Traffic Safety Administration regarding this technology are expected by this summer, and road tests are currently in progress across the country.
But one barrier to the widespread use of autonomous vehicles is deciding how to program these vehicles' safety rules in the most socially acceptable and ethical way.
After a six-month survey, an international team of researchers published their findings Thursday in the journal Science and found the public has a conflicted view about the future of self-driving technology.
Scientists used Amazon's Mechanical Turk platform, an online marketplace where people are asked to conduct human intelligence tasks computers aren't yet able to do.
Over the course of six months, researchers conducted six online surveys, with 1,928 participants total, asking people to evaluate the morality of several different situations a self-driving vehicle may one day encounter.
Saving the Most Lives Is a Priority
One survey found that 76 percent of participants felt it would be more moral to sacrifice the life of one passenger than to kill 10 pedestrians. People still upheld the utilitarian view, which is to maximize the number of lives saved, even when asked to consider that their family members were present in the car. But There's a Roadblock
While most were in favor of an outcome saving the most lives, survey results also indicated that participants would be less likely to purchase a car that followed this principle, with people instead preferring a car that would be more protective of themselves and their families. They also expressed reluctance to accept governmental regulation of self-driving vehicles.
The researchers call this situation, in which conditions could be made less safe for everyone by individuals acting in their own self-interest, a "social dilemma."
"You can recognize the feeling; the feeling that I want other people to do something but it would be great not to do it myself," Jean-Francois Bonnefon, co-author of the study, said during a teleconference with reporters.
The authors of this study note that the benefits of autonomous vehicles are numerous and include significantly eliminating the number of traffic accidents that occur each year, reducing pollution, increasing traffic efficiency, and enabling the elderly and disabled to move around more easily.
"Autonomous cars have the potential to revolutionize transportation, eliminate the majority of deaths on the road," Iyad Rahwan, another author of the study, said during the teleconference. "That is over one million global deaths annually. But as we work on making the technology safer, we need to recognize the psychological and social challenges."
Curious to further explore some of the potential situations that may arise with an AV? The Scalable Cooperation group at the MIT Media Lab has created a game which allows users to interactively explore the types of decisions these cars will be programmed to make.
The White House(WASHINGTON) -- President Obama said many businessmen in the U.S. aren’t exactly impressed with Donald Trump's business acumen.
“There’s no successful businessman in America who actually thinks the most successful businessman in the country is Donald Trump,” the president said in an interview with Bloomberg Businessweek. “I know those guys, and so do you, and I guarantee you, that’s not their view.”
Throughout his presidential campaign, Trump has touted his business record on the campaign trail. In an interview with The Des Moines Register last year, Trump proudly declared himself the "most successful person ever to run for the presidency, by far."
"Nobody's ever been more successful than me. I'm the most successful person ever to run,” he said. “Ross Perot isn't successful like me. [Mitt] Romney -- I have a Gucci store that's worth more than Romney.”
iStock/Thinkstock(WASHINGTON) -- The Democratic sit-in over gun control Wednesday night almost fell into a broadcasting black hole until tech savvy representatives took out their smartphones and began broadcasting on Periscope.
The live-streaming service, which was launched by Twitter 15 months ago, proved to be an invaluable tool for Democratic lawmakers who converged on the House floor after House Speaker Paul Ryan adjourned the session.
As of Wednesday night, tweets sent with Periscopes from Rep. Scott Peters, D-Calif., and Rep. Eric Swalwell, D-Calif., had been viewed more than one million times, according to Twitter's communications team.
C-SPAN, which broadcasts House of Representatives sessions, was unable to televise the demonstration using its cameras but found a clever way around the rules by putting Peters' Periscope stream on the air and later using a Facebook Live video from Rep. Beto O'Rourke, D-Texas.
"This is the first time we’ve shown this. We’ve used Periscope and social media as part of our overall coverage. But what we’re showing right now is unusual and extraordinary," Howard Mortman, C-SPAN's communications director, told The Washingtonian.
While Republicans dismissed the demonstrations as a "stunt," Democratic lawmakers found support from some of their constituents through social media, where many people cheered them on with the hashtag #NoBillNoBreak and #DisarmHate, among others.
There were also snacks delivered to the chamber and the promise of pizza, according to Rep. John Yarmuth.
The marathon demonstration ended at 3:30 a.m., with Democrats declaring victory after more than 17 hours, despite not getting the votes on gun control they had sought.
ABC News(NEW YORK) — Facebook executive Sheryl Sandberg day launched “Together Women Can,” a new public awareness campaign to encourage women to be mentors and powerful allies for other women at work.
Sandberg announced the initiative in an exclusive interview with ABC News' Amy Robach that aired Thursday on Good Morning America. During the interview the Facebook COO also talked about how she’s coping following the unexpected death last year of her husband, Dave Goldberg, telling Robach that Goldberg's death was “still a struggle.” ‘Together Women Can’
"Together Women Can" is the latest initiative from Sandberg’s organization LeanIn.Org. The organization developed from Sandberg’s 2013 book "Lean In,” whose goal is to “empower all women to achieve their ambitions.”
Asked about how she came up with the idea for “Together Women Can,” Sandberg replied: “We see all the time women supporting other women. And I think there's a myth out there that women don't, and it's not true.”
She added that there were “small, everyday things” that women could do to help other women in the workplace to make a big difference.
“We know that women get interrupted more than men. And if you're getting interrupted, of course you should be able to say, ‘Hey, I haven't finished,’ but that can be hard. Another woman sitting next to you can say, ‘Hey, I'd really like to hear what Amy was about to say,’” she said.
Another way is to acknowledge the work of female colleagues.
“We know men get credit more easily for their ideas than women. So coming to the table and saying, ‘This was a great project and this was based on Amy's idea,’ is another way we can celebrate each other,” Sandberg said, adding that such "strong moves" in the workplace benefit all women.
She also encouraged parents to teach their daughters to have strong voices.
"We call our little girls 'bossy.' We don't call little boys 'bossy,' because we expect them to lead. We should look at our daughters and say, 'You're not bossy, you have executive leadership skills and I'm going to support and encourage that,'" she said.
A PSA for the campaign features Kerry Washington, Serena Williams, Lena Dunham, Megyn Kelly and other women at the top of their respective fields describing how other women have helped their careers.
"We're hoping everyone will join us. Post a picture or a story of a woman who helped them with [the hashtag] #LeanInTogether, and we want people to really see what's happening there, which is that we are moving to equality," she said. "Women are going to have half of the top jobs. Women are going to reach for any dream. We're not going to be told we can't. And we're going to tell each other we can."
Sandberg credits Facebook's Lori Goler and The Huffington Post co-founder Arianna Huffington, as being strong influences in her life.
Huffington "has been for a very long time a source of great career advice for me, but also a personal shoulder to cry on, which I needed," she said.
Sandberg wrote the 2013 bestselling book Lean In: Women, Work and the Will to Lead in 2013 and founded the related nonprofit foundation, LeanIn.org, to help women achieve their goals through education, community and “Lean In” circles, a network of small groups where women meet to practice new skills and support each other. ‘I Miss Dave Still’
Sandberg told Robach that is was the “Lean In” community which helped her cope after her husband died.
The 46-year-old mother of two said she was doing better but added: “It’s still a struggle. You know, I miss Dave still. But I know I don’t have any choice other than to keep going. And I keep going because I look deep and find a resilience inside myself ... But also because I’m surrounded by the support of a lot of people, a lot of women who have really supported me.”
Sandberg said she had to “dig deep” and “and find the belief in myself that I could keep going, that I could -- you know, do function as a single mother, that I would be able to do my job and take care of my children.
“You know, I have resources others don't have, and I'm aware of that. And I'm grateful for that,” she added. “And I think we need to do a much better job supporting single mothers. Because there are so many out there who need our help and often the people who need us the most as a society, we abandon. And we need to change that.”
Sandberg said her greatest hope for the new campaign was that people recognize that women are already supporting each other.
“We will celebrate the women who are helping us. We will get rid of the myth that women are other women's worst enemies, because they're not. And we will start celebrating leadership in women and little girls everywhere,” she said
iStock/Thinkstock(LONDON) — Britain's biggest banks, including many American banks based in London, are getting ready to pull an all-nighter as the UK heads to the pollS to decide whether the country should remain or leave the E.U.
Results of the referendum are not expected before 1 a.m. EST on the 24th -- with first indications expected around 6:30 p.m. EST on the 23rd, but bankers and traders are preparing for volatility on financial markets whatever the outcome.
“Whatever the result, it’s going to be a sleepless night for our traders as the results come in slowly on Friday morning,” Joe Rundle, Head of Trading at ETX Capital a UK based financial company said in a statement.
“There could be some potentially wild gyrations in prices, particularly in sterling. Some banks are warning that they might fail to execute orders on their electronic trading platforms," Rundle added.
Goldman Sachs, JP Morgan Chase, Barclays, and Citibank are among those drafting in extra staff to man a 24-hour trading desk and help clients manage their risks.
"At present the pound is on the up as investors bet on a Remain win," Rundle said, adding: "at the same time the cost of insuring against massive moves in sterling has skyrocketed."
According to the financial markets expert, the pound has already surged, reaching a level it had not seen since the financial crisis of 2008.
“It’s an incredible opportunity for traders to make big bets on the fortunes of the pound and other markets affected by the referendum such as the FTSE,” Rundle added.
The European Central Bank’s Chief said they are preparing for "all possible contingencies" in the event of a vote for the UK to leave the E.U.