2. SOUNDBITE (English) Jonathan Corpina, Senior Managing Partner, Meridian Equity Partners:
"Clearly this vote was not something that was expected, so I do think were going to have some short-term pressure on this market. I don't think this is the start of a significant sell-off, I just think that this is something that was unexpected but our market is somewhat strong enough to absorb this type of news."
3. SOUNDBITE (English) Jonathan Corpina, Senior Managing Partner, Meridian Equity Partners:
"Yesterday we were up 230 points, today we're down 350, 400 points. In the overall scheme of things, yes, volatility is up and down but not that significant of a movement if you're looking at a long term timetable."
4. SOUNDBITE (English) Jonathan Corpina, Senior Managing Partner, Meridian Equity Partners:
"It's definitely going to have implications and I think everyone is trying to understand what the landscape is going to be moving forward. Clearly this is something that we have not experienced before so we don't have a prior situation where we can draw a parallel relation to this."
5. SOUNDBITE (English) Alan Valdes, Senior Partner, Silverbear Capital:
"For a lot of guys it's a good day to buy because it's basically a one-day affair. If you look at our exports to Britain they're only about five percent. So in the short term, it's really not going to weigh too much on our multinationals or on our market."
Global stocks and the pound are plunging after Britons voted to leave the European Union. The Dow Jones industrial average dropped 464 points, or 2.6 percent, to 17,547 in midday trading Friday.
Traders at the New York Stock Exchange said that while the vote came as a surprise, the selloff is not expected to be the start of a period of prolonged volatility.
Jonathan Corpina of Meridian Equity Partners says traders will have to come to terms with the changing landscape and work to understand how it will affect markets in the future.
The Standard & Poor's 500 index fell 55 points, or 2.7 percent, to 2,056. The Nasdaq composite sank 153 points, or 3.2 percent, to 4,755. It was the biggest drop for U.S. stocks since September.
The British pound plummeted to a 31-year low. Bond prices rose sharply as investors sought safety. The yield on the 10-year Treasury note dropped to 1.57 percent from 1.75 percent a day earlier, a huge move. The price of gold jumped 5 percent to $1,322 an ounce.