(VOVworld) – Global financial markets show signs of recovery on Tuesday after British pound and global shares plunged because of the UK’s vote, to leave the European Union (EU), last week.

British Prime Minister David Cameron (R) and French President François Hollande (L) at the EU summit on Tuesday. (Photo: AFP/VNA)

In New York, Dow Jones, S&P 500, and the Nasdaq Composite indexes rose after a two-day decline. In London and Paris stock markets, major indexes rose. The pound went up 0.6 percent against the dollar to 1.3324. Oil prices climbed Tuesday.

Frank Ingarra, head trader at NorthCoast Asset Management, said risks remain, but traders start to buy in. Mark Dowding, a senior portfolio manager at BlueBay Asset Management, said global markets are stabilizing, which means the impacts of Brexit on Europe and the US are not as serious as they are for the UK.

Economist Ken Goldstein added Brexit will not have major impacts on the US, because the EU, particularly the UK, is not the US’s largest trade partner. He said the US economy is experiencing a weak growth rate, making the impacts inconsiderable. Mr. Goldstein said the next two weeks will be a test for global financial markets and they will recover by the end of July.