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The 'Meghan Effect' being felt after engagement announcement

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It's already being called the Meghan Effect. 

The coat that was worn by Meghan Markle during the announcement of her engagement to Prince Harry is now being sold for $600. 

The world is also taking notice of the fact that Meghan was not wearing stockings or pantyhose during Monday's engagement announcement. 

RELATED: How Meghan Markle's 'effortless' style is taking the fashion world by storm