The furniture industry is not escaping the global stock turmoil that has caused widespread declines following Great Britain’s decision to withdraw from the European Union.

Following a referendum in which 52% of the British electorate voted to withdraw from the EU global stock markets have seen widespread declines. The Dow Jones industrial average had dropped more than 500 points and lost nearly 3% of its value through midday, and the U.S. S&P 500 was off more than 2.5% lower midday trading.

Among the furniture retailers impacted by the broad-based declines Conn’s was down 3.97%, Haverty’s 3.98%, Pier 1 off 2.57% and Restoration Hardware was off 2.36% as of 12:30 this afternoon. On the manufacturing side, Bassett was down 2.97%, Culp off 3.235%, Flexsteel down 3.332%, Legget & Platt was off 3.72%, and Hooker furniture was off 2.2%.

These are just a sampling of the furniture companies impacted by what is turning into a tumultuous day for the global stock markets.

(Source: Furniture Today  Author: Bill McLoughlin)