The British currency is in free-fall, with its value now marking an historic low following Britain’s exit from the EU.
The pound lost a full 10% of its value in the immediate aftermath of the vote, and an additional 2% has been shaved off it today, after Asian market resumed trading on Monday morning.
Bank stocks also took a severe beating, and trading of RBS and Barclays shares was suspended for a time, after losses of over 10%.
The political fallout of Brexit has also been swift, and dramatic. Prime Minister David Cameron tendered his resignation, and many in the Labour camp have followed suit.
This morning, Chancellor George Osborne put his game face on and uttered some hollow-sounding words: ‘Britain is open for business.’