Abstract
This paper examines the Brexit announcement's impact on market liquidity, highlighting its significant effect on UK and EU stocks listed on the NYSE. Regression results indicate that Brexit amplified uncertainty, leading to reduced liquidity, with UK stocks taking two days to recover compared to one day for EU stocks. This indicates greater investor uncertainty for UK stocks. Additionally, our study reveals that Brexit's impact extends globally, affecting US and non-US stocks, with US stocks being susceptible to close UK ties. These findings underscore Brexit's extensive influence on international financial markets.
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