As you will see the world hasnt ended. The markets have fallen and so has the pound. This was all predicted. Not because suddenly the economy will grind to a halt but because it is an unknown.
The markets fell 500 points this morning hitting banks hardest (we can all cry about that) it has already rallied another 100 points and since I started writing another 100 points up. When the US markets open this afternoon, the FTSE will no doubt react to how the DOW perceives things. Volatility will remain, its been here for the last 8 years since the credit crunch so nothing new there!!
The fall of the pound is great for British exporters but not so good if you need to buy currency or are an importer.
Lets keep things in perspective now..... what happens next is relatively straight forward. Britain doesnt just step out of the EU immediately. Things will continue as they are until the UK files Article 50.
As Cameron has agreed to step down this may be done by his successor.
In the interim, the UK will commence trade negotiations with individual EU nations with Germany already indicating they would be foolish to impose trade levies on the UK. Dont forget there is a trade deficit with the EU of more than £9 billion so it is in EU member nations interest to do a deal with the UK sooner rather than later or lose that income!! Time for calm me thinks and advice to clients has been don't panic and that remains the same now.