Brexit: Global markets stunned as UK is set to leave European Unionhttp://www.cnbc.com/2016/06/23/opinion-poll-suggests-britain-favors-remaining-in-eu.htmlIn a dramatic turn that polls did not predict and which markets failed to price in, the United Kingdom is on course to leave the European Union, according to the latest predictions.
Major U.K. broadcasters including ITN, Sky and the BBC have all called the result for the leave camp, throwing markets around the world into turmoil and prompting sterling to hit its lowest level since 1985.
The ramifications of the result, although not yet officially announced, are already reverberating across the U.K., European Union and wider political and economic establishment.
Prime Minister David Cameron is expected to make an address outside 10 Downing Street shortly as his future as leader looks uncertain. European markets are expected to open dramatically lower and EU leaders are expected to hold a crisis meeting.
Markets around the world have been roiled by the shock result:
In Japan the Nikkei 225 was down some 7.5 percent
Sterling has fallen 10 percent against the dollar and 3.35 percent against the euro.
The prices of Brent and WTI have both dropped some 5.8 percent.
The yield on the 10-year U.S. Treasury bond has fallen 12.5 percent.
Dow futures now down 700 points