GLOBAL MARKETS ARE IN CHAOS AFTER UK VOTES TO LEAVE EU

The UK has voted to leave the EU, according to projections from multiple outlets including iTV, the BBC, and SkyNews.

In an absolutely stunning result, this means the UK will now likely begin the process of leaving the European Union, the first member of the bloc to leave since its formation in 1993.

Following this result, global financial markets are in complete chaos with some of the most stunning moves you’ll ever see taking place tonight.

Charts below are as of roughly midnight in New York, or 5:00 a.m. in London.

Headlining the proceedings is a mind-blowing drop in the British pound, which is down over 9% against the US dollar to around $1.34, a 31-year low.

The pound is also getting crushed against the Japanese yen — which has seen a monster rally on Thursday — with the pound losing 14% against the yen.

In global stocks, US futures are down sharply with Dow futures off almost 600 points, S&P 500 futures down 91 points, or 4.3%, and Nasdaq futures down about 200 points.

London FTSE futures are down 8.9%.

Futures for Germany’s DAX are off more than 8%.

US Treasury bonds are also catching a massive bid with the 10-year Treasury yield falling to as low as 1.48% (bond prices rise when yields fall).

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