Major U.S. banks were tumbling in premarket trade Friday, joining their European counterparts in the doghouse after the U.K. voted to leave the European Union. Britain's decision to secede from the EU is expected to rattle the trade bloc, and has fostered carnage in bank stocks early Friday morning. Shares of Citigroup Inc. tumbled 7.8% in premarket trade, Morgan Stanley was off 7.4%, Bank of America dropped 6%, and J.P. Morgan Chase shares declined 4.8% premarket. In an emailed statement Friday, Goldman's CEO Lloyd Blankfein had this to say about the Brexit vote: "We respect the decision of the British electorate and have been focused on planning for either referendum outcome for many months. Goldman Sachs has a long history of adapting to change, and we will work with relevant authorities as the terms of the exit become clear. Our primary focus, as always, remains serving our clients' needs."
Copyright © 2016 MarketWatch, Inc.