World markets lost $3 trillion in the two days of trading following the United Kingdom's Brexit vote.
The U.K.'s vote Thursday to leave the European Union led to major sell-offs on Friday and Monday. Credit agencies, including Standard & Poor's and Fitch, downgraded the country's ratings. Moody's changed its outlook from "stable" to "negative."
"Fitch believes that Brexit represents a substantial negative shock to the U.K. economy, public finances and political continuity," said Ed Parker of Fitch Ratings.
You can expect the markets to remain unsettled, according to a volatility index.
And media reports say the U.S. Federal Reserve is more likely to cut interest rates now than raise them.
But there was a glimmer of hope on Tuesday morning: U.S. stocks rose after the opening bell, and European markets saw a bounce.
This video includes clips from Fitch Ratings and ABC and images from Getty Images. Music provided courtesy of APM Music.
Trending stories at Newsy.com
