The Dow dropped another 250 points today, as it (and other world markets) assessed the fallout from the UK’s decision to leave the EU.  At one point, it dipped to well below 300 points off.

In addition, Standard & Poor’s announced that it had lowered the United Kingdom’s sovereign credit rating from “AAA” to “AA,” citing last week’s referendum. Fitch, meanwhile, moved its rating from “AA+” to “AA.”

But others are beginning to see even more fallout.  For example. London’s position as one of the world’s premiere financial centers is bound to change in the wake of a vote to leave the European Union.  In coming years, it’s highly possible that major companies in London will no longer have unfettered access to the EU — and many firms have voiced a need to move employees elsewhere.

That’s where Dublin comes in.

“A lot of businesses in the U.K., in order to stay part of the EU, will expand operating subsidiaries or even redomicile to Ireland,” said Brian Jacobsen, chief portfolio strategist at Wells Fargo Funds Management. “Having Dublin become more of a financial center could be part of the longer-term trajectory here.”

Dublin has a number of things going for it: First and foremost, as the capital of the Republic of Ireland, it’s still in the EU and will continue to enjoy freedom of trade and movement with Europe. It also has close proximity to London and Continental Europe, universal English language fluency, an existing banking presence, and a low tax policy.