And weve seen it before. Weve seen dotcom stocks blow up. Weve seen kneel. Weve seen a 2008 financial crisis. Were down 12 points for the week on s p 500. So we had a great week up until today. Can it get worse . Yes. Risk assets, everyone is running to them. So theyre pushing yields lower. So you need a mortgage in the next year or two years, this is really good news. If you need to rehire today you might have some questions on your mind. Brexit is going to create an ugly day. Currency around the world are getting devalued except the dollar. Which is a safe haven. European stocks ultimately could fall 15 to 20 because they will likely run into a recession. The same people who voted for the brexit are people who are laborers. Theyre going to find some of them are out of the a job and if this vote were to take place again, they probably would vote to stay versus to leave. Thats the thought out there. But like gold is going higher. Its a crazy, crazy day. I say sit back and enjoy but thats being insensitive. Yeah. Yeah. Because, rob you can say its a longterm thing. Its only on paper. It is real to people who are taking out people, retired. Exactly right. And rob, for those of us joining us this hour for the first time, you talked last time about what the effect would be or might be on peoples 401 k , the retirement funds. Again, talk more about that. Yeah, i think youll see the United States probably somewhere 3 to 4 today. For the week, its a push. We had a really good week. That gives you some perspective this isnt disastrous. This a bad but not a horrific day. What will happen in the coming days and weeks is well start assessing the situation a little bit more. For instance, if youre a company like caterpillar and boeing who sells bigticket items. A lot of loans arent going to get done because people are trying to figure out what we can do and cant do with lowcost money and with credit viability. Youll probably see the u. K. Lose their Credit Rating for instance. I think youll see a Flight Safety in the United States. So Companies Like facebook, do they have any exposure to the europe i dont know . None. How about at t . None. Costco. You need to start thinking like that. And companies athat have dividends yields, theyve been working for the last five years, theyll probably work for the next 2 or 3 years, because cost of money is going to go lower. You wont get a good money in a tenyear treasury. You wont get good money anywhere except for highyielding dividends. Im going to reach for my wallet. Speaking of money, i have a buck here. The good news, lets talk about traveling. Its a good time to travel. Yeah, its summertime and for those who have summer plans, just got very, very happy if youre going to france or youre going to germany. So the stronger dollar is good for the u. S. Consumer as we travel. Its not so good for Companies Like afternoon el who make products that sell, you know, in dollar denominated. It just made, you know, apple shares for instance to buy an apple phone in the u. K. Its about 10 more today. Theres winners and loser. Right. Theres no right answers in economics. Its interesting when you put it in those terms. The same phone you could have bought yesterday is now 10 more as you wake up this morning in england. If they right if again, if were buying stuff here, is if were traveling there, its good news for us. But its the investment angle that rob is focusing on. Yeah, and one quick question. Just to dovetail on the investing angle. You may have some people who manage their own funds, maybe is the now the time to jump on gold because we just saw it rise here in the overnight hours as a safer bet. Whats your advise on that . Gold cant be dee valued so there is some value there. Over the longer term, i dont really like gold. But if youre really worried in the next month to three months that things are going to be get hairy. Were only down 2 in the dow. If we get going down 10 , which is normal. Its a correction. If we go down 20 , which it happens, yeah, you probably want gold in your portfolio. But dont overdo it. Deposit with a cold company, not bars or coins. Thanks a lot, rob. Well continue to look at this some breaking news and talk to rob throughout the morning here on the kron4 morning news. Everybody reacting to this surprise vote. Leaders around the world weighing in as is the president of the United States as well. Obama waking up this morning in the bay area, by the way. Hes in town talking about globalism and entrepreneurism and all the things that this vote seems to go against. So were going to get more of his reaction. But he has already come out this morning to say what you seen on your screen here, the people of the United Kingdom has spoken. We respect their decision. It is enduring the United Kingdoms vital concern economic policy. Again, like you said hes here in the bay area. Hes going to be talking in stanford. We will be following more on that to come. As we wrap up at least this portion of our coverage of this story, let me show you again, quickly what were seeing for the dow as we take a look at the markets, the dow off again roughly about 450 points or so. About two there it is. 376 the current number. Down about 2 . Were also tracking weather and traffic on this very busy friday morning. Robin is on the traffic. How is it going so far . Not so far for the dunbar bridge. The traffic lights are out at the end of the bridge coming off that bay front. Its causing a nasty back up for people trying to get across the bay. This is already caused an accident this is bay front expressway right at university avenue. The lights are out. Treated it as a fourway stop. The accident still blocking, several vehicles are involved. Look at that long line of heavy traffic now crossing the bridge. Its already backed up well beyond the toll plaza. It will be about 35 minutes to get from 880 in fremont across the bridge and over to bay front expressway. Perhaps you can use the bridge. Im not going to garren you this is going to save a lie guaranty you this is going to save a lot of time. You cant see the heavy traffic behind the toll plaza. Its crawling all the way up to the pay gates. Then it picks up on the flat section and looking good across the bridge. But its about 32 minutes here to get from 880 over to haw 101. So its not a huge difference. But ill keep an eye on that problem with the traffic lights that are coming into palo alto. Ill let you know if and with when crews have those fixed. Good morning everybody. As you saw from that camera shot she was just showing you over the peninsula the sun coming out a little bit. Try to do its performance there. Necessity have a dough 54. 52 downtown San Francisco and oakland at 57. So for oakland this is how it shakes down. 66 by 11 00. Mild and pleasant on balance. Looking healed for your day, still warm by noon and the afternoon still some areas may scratch about 90 degrees. Were going to have that extended forecast for you covering the weekend as well as weekend events i right now back to james and darya. Thanks a lot. 7 07 on the clock. President obama as we mentioned earlier waking up in the bay area this morning. Getting ready to speak at a Global Entrepreneurship at the Stanford University. That will be later this morning. Here is video of him coming off air force one when he landed yesterday. Its his third trip to the bay area this year. Hes greeted by dignitaries, the santa clara board of supervisor president was there as was flan sy pelosi. So yeah, hes going to be talking at stanford. Everybody wants to hear more, we want to get a statement about what he wants to say about what happened in europe. Standing by at the university this morning with a preview of what else we can expect. Reporter its going to happen right behind me. You can see secret service not letting us in just yet. But darya you hit it right on the head we do expect president obama to make remarks about what happened in europe before he addresses the Global Leaders as far as business is concerned. He will he will speak at 10 45 this morning. And probably l. A. Last about an hour or so. This will be streamed live on facebook. We will carry it for you. He will also meet with facebook founder Mark Zuckerberg as well as other prominent ceos. Not just across the globe but also here in Silicon Valley including google and yahoo and possibly aol as well. And then he will leave the bay area around 1 35 this afternoon, go to seattle to meet with the governor. So hes going to knock out as much as he can. Now this, he wakes up, he has to address whats going on. We do expect for him to do that. He has never shied away from the big stories nationally or internationally. So we are all waiting to hear what he has to say. Once it starts around 8 00. Well get reaction from those Global Leaders, a lot of bright minds, a lost rich people, which is why theyre making sure everybody is safe inside. Back to you guys. All right. Thanks. Well check in with you later, will. Traffic is going to be a mess. Yeah. Not only we have the president ening but we also have the annual pride celebration. All colliding this weekend. We have kron4 averi harper following that story. Shes in the city with more on that. Reporter hey. Im here at the intersection of howard and Fourth Street where theres some of that activity because the president is staying at the inter continental hotel. You can see theres lots of traffic here because of the closures, theres lots of Police Presence here. Also there is some construction that is going on in this area right now. Its all happening at the same time so you can imagine it can be a headache for drivers who are in this area. Take a look at some video that we have of the president coming in yesterday. Be aware that the streets that you should avoid because of the president s visit are fifth street between mission and folsom and Howard Street from fourth to fifth street. According to signs in the area, the streets wont reopen until 11 00 in the morning. But the president s visit isnt the only event thats going to impact traffic here in the city this weekend. This weekend is San Franciscos annual pride celebration. It comes with a host of street closures that will remain in effect until monday. The very first street closures happen at 9 00 this morning. And those are the streets that are around civic center because theres a celebration there that starts tomorrow at noon. Now again you can see here coming back to us live here on Howard Street theres lots and lots of traffic. Were going to be here to monday ton conditions as things go on this morning and update you then. Back to you in the studio. I feel like its a little bit my fault. Because i leave europe and the eu is a mess right now. I left the bay area and the warriors lost. I was in italy in florence they had their gay pride. So its my detower. Youre trying to run around and get the museums. Vehicles are out for safety. And now you come back and San Francisco city streets are jammed. Its like the news is following me. Im not sure whats going on. I think youre to blame. Heres the deal. And then we cant even really keep track of the traffic, because they never tell you where the president is going. He leave fof fete field at southbound 30 this afternoon. Thats where you see the roll mystery closure. I wish there was a way we could see the traffic in the palm of our hands so we could plan our trip home today. James, we have something for you. It was only a way. The kron4 mobile app. Its really all you have to do. Yeah. And the best bet for you at the last minute. Youre traveling you pull out the app, you have weather traffic and all this kind of breaking news that affects. Download that its free. And well finish here quickly before we come back with more news with again a quick reminder were watching wall street where the dow is down about 350 points. Were tracking it again. The ripple events of that big bombshell in britain when they voted to remove themselves from the European Union. Send your letters to darya. And were back. Breaking news overnight. People in parts of the virginia and West Virginia are being told to find Higher Ground now as they are expecting some severe flooding. Continued severe flooding. A whole lot of water. Theyve had some serious storms. Now the National Weather service is reporting that record flooding is headed to the jackson river. That river expected to crest at 23 feet. Last time we saw the river that high was back in 1985 and it was devastating for the area. Some parts of virginia and West Virginia, the water so high its taken out roads, and this video shows you exactly what theyre dealing with. This coming into the newsroom this morning. Crews right now are working to make sure people there are safe. And take a look at this video, too, the floodwater so strong in parts of the West Virginia, theyre actually flipping big rigs over. This is video of one big rig slowly being pushed on its side. Several drivers were forced to abandon their cars because the floodwaters were way too deep. Also this morning, West Virginia officials are searching desperately for a 4yearold boy who was swept away by high water. Right now three different Fire Departments are out there. They have the Swift Water Rescue Team trying to look for them. At this point theyve found no sign. So lets get right to storm tracker, tacking a taking a look at the flooding. James was talking a lot about virginia. Theres more which is colorization there. That means that they could be looking for Severe Weather on top of flooding. Were talking about severe thunderstorms are a possibility where you see that tan color going on. It covers almost all of the state of now, and also the upstate of south carolina. Also extends down to the low country too. So its going to be rough in this part of the world through the afternoon. It looks like for today, checking back at home. This is the golden gate, i think. And lots of fog. You can see here. Even at this late hour, past 7 00. It hasnt mixed out even though technically the onshore flow is starting to weaken a bit. Its some lowlevel moisture that is trapped and cant mix out real easily. That should happen for us in the later morning hours. Livermore of 56 at this hour. Up in the north bay we did see nef nefo. 52 of rosa. Within later heating today. Some areas may pop at 90. But generally speaking most inland regions in the 80s. Also up to the north bay too. The peninsula kind of chilly today in maybe upper 60s territory to near about 70. 70 covers most of the east bay shoreline for at least today. Tomorrow a little bit of warming going on here. It will be a little warmer day tomorrow than today and then sunday a slight cool down. We did talk about this high forever and a day it seems like. And all this red that you see here in this colorization was real hot stuff is, its been squeezed together now so you can see now. Its not as influence shall as before. Its still plenty of hot. Those triple digits are not going anywhere. Thats about it. Not covering more real estate. Its in the northwest. Brought in some of this on shore wind. Broke the back of this high, thank you. After that hot tuesday. Temperatures are moderated ever so slightly a little bit. Were going to pop a little bit on saturday. But then by sunday, again, waiting until monday, tuesday when that high will reassert itself. Youll feel it again. Those east bay temperatures will start popping well in the business of the 90s. Maybe visit the c note. Lets go and check it out out here on the seven day forecast. 93 going on for tomorrow. Theres your slight increase. Delayed action on sunday, then by monday into tuesday, upper 90s near about 100 before temperatures gradually trail off to the balance of the week. Robin, we have fog going on. Anything else for the area roads . Yes, a lot of slow traffic out there. Its not going to be fridaylike today. We have a big problem am calling off the dunbar bridge. The traffic lights are out. Bay front expressway at university avenue, that caused an accident. And now theres a big back up that stretches all the way across the bridge through the toll plaza. Its spilling over into the city of fremont. So its going to be right there the first intersection coming off the bridge. There was also a crash that cleared so the vehicles involved in that accident, theyre out of the way. But youll have to deal with this nasty back up and the driver time just about 40 minutes to get from 880 across the bridge and out to bay front expressway. Take 237 or 92. If youre going to take 92 theres a little bit of slow traffic from the southbound anymore et cetera on west 92 right through the toll plaza. Look at the drive time. Thats much better than 40 minutes compared to the dunbar bridge. So west 92 is your alternate or 237. We have some slow traffic heading into San Francisco. But its not bad. This is fridaylike if you look over to the right, you can see its only backed up in the cash lanes toward the middle of the parking lot on the left its coming from the 880 crossing over right down the middle. Folks have fast track getting through without a delay. Thats not a bad right into San Francisco. If you come in from the upper east shore freeway i spotted an accident here on westbound 80. Its backing up traffic into richmond and san pablo. So 33 minutes from hercules to the maze. That crash blocking two leans. So ill keep an eye on it. Blocking two lanes. 7 20 is this the time. Firefighters are scrambling if to get the upper hand on several massive wildfires that are burning in southern california. Including a new one that has burned down 60 homes so far. This fire started late yesterday afternoon and quickly grew to 12 square miles. Thats a new number. Over night and 0 containment at this hour. Here is the video of the blaze going through a building overnight. Thats one of many structures that burned. This is near lake isabella. So now, new