The early results in the UK’s EU Referendum are causing markets around the world to panic. At 11:20am AEST there were about 2.7 million votes counted from a total expected to be around 32 million. The Leave vote stood at just below 53%.
The Australian share market, which had started the day in positive territory after gains overnight, is now down almost 2%. The Pound sterling is taking a hammering on the Forex market as the Leave vote builds; the pound was trading at about US$1.50 before counting started and has now fallen to US$1.41.
The Aussie $ has strengthen against the falling pound but is down over a cent against the US$.
More to come as this story unfolds…
Great results coverage from the BBC here.