It looks like the ‘Remain’ camp won’t make it today but still we will have to keep reporting the slimmest possibility they have. The “Remain” cam is now trailing the “Leave” camp by almost a million vote and that is very difficult to cover. The camp will have to secure at least 64 percent of the rest of the votes to be counted. This figure is probably moving up as we write.
The market has given up on the team Cameron and trying to price all possible sets of outcomes that will follow today’s exit. The global equity market is down around the world.
- Australia’s ASX200 is down -3.5 percent.
- Japanese Nikkei is down -8.2 percent.
- Shanghai composite is down -1.2 percent, relatively much better performer.
- India’s nifty is down -2.8 percent.
- S&P 500 future is pointing to more than 5 percent loss.
- Both of the crude oil benchmarks are down more than 5 percent.
In contrast, safe havens are rallying.
- Gold is up 5 percent.
- Silver is up 2.1 percent.
- Japanese Yen is up 4.1 percent against the dollar.