Much of the media continues to express concern over the Brexit vote. The charts below reflect what Europeans and investors in the US were concerned about, long before and after the vote.
Both of these ETFs started falling hard back in 2014, long before the Brexit vote. The large declines now have EUFN testing 2011 lows and EWI is now testing lows that took place during the financial crisis. Once these banks started heading down in 2014, broad-based indices in the states (NYSE, Wilshire 5000, Valu Line Geometric, Russell 2000) peaked and started heading lower.
American indices continue to be influenced by the banks in Europe as the world hopes the banks find support at these levels.