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[NeOak]

The FTSE 100 is now down 8.3pc, meaning £137bn has been wiped off UK blue chip stocks within minutes of markets opening this morning.

Banks and house builders lead the biggest fallers:

Taylor Wimpey -42pc
Persimmon -40pc
RBS -34pc
IAG -33pc
Barclays -29pc
Lloyds -29pc
That's a lot of red.

http://www.telegraph.co.uk/business...erling-surge-or-slump-as-the-eu-referendum-c/

Go down to 8:07AM

And FTSE250:

FTSE 250 loses 11.7pc as markets open
The FTSE 250 index, which has more companies in it that are exposed to the UK economy than the more international FTSE 100, has plunged a whopping 11.7pc.

The index of so-called mid-cap companies had dropped an astonishing 2,017 points to 15,309 in the first few minutes of trading.

Page Group leads the fallers with a 58pc slump, followed by Bovis, which is down 56pc.

 

[FStop7]

All the old people who voted for this are gonna end up wondering where the NHS went when they need it the most.

 

[Toxi]

Oopsies.

 

[sfedai0]

buy buy buy

 

[Lego Boss]

Well done.

You reap what you sow.

 

[Leona Lewis]

 

[Mr_Moogle]

Not much left to do but break out the popcorn gifs.

 

[Nightbird]

Oops.

 

[O Canada Our Home and Native Land]

Good time to buy Barclays? They may be scum, but they're reliable scum.

 

[KingSnake]

"Project Fear", right?

I hope this doesn't contaminate too much the European companies. :/

 

[Cindres]

Is Bovis a joint venture between Bovril and Hovis? Because I would buy the fuck out of that.

 

[Miles Quaritch]

All the old people who voted for this are gonna end up wondering where the NHS went when they need it the most.

Nah, we still have a moral obligation to look after those self centred myopic cunts.

 

[The Incarnation]

Trump and Johnson tag team. A new kind of special relationship.

It's the future.

Embrace it.

 

[Lagamorph]

 

[Mr Swine]

All the old people who voted for this are gonna end up wondering where the NHS went when they need it the most.

But think of all the monies they will save now with Brexit! Win win situation ey?

 

[Zeouterlimits]

Irish Stock market down 13% too - https://twitter.com/dannyodwyer/status/746239693260365824

 

[takriel]

I hope the British pro-leave people realize quickly enough that they FUCKED UP MAJORLY

 

[Dubbedinenglish]

Stop the trading pls.

 

[Foffy]

I hope the British pro-leave people realize quickly enough that they FUCKED UP MAJORLY

Human beings can build walls of illusion and delusion.

They will double down, much like the "vote Trump to get something different" type of folk.

 

[The Incarnation]

I hope the British pro-leave people realize quickly enough that they FUCKED UP MAJORLY

They won't. At all.

 

[RJT]

I hope the British pro-leave people realize quickly enough that they FUCKED UP MAJORLY

It's not like they care about the economy. They just want the damn immigrants out.

 

[Kurtofan]

I hope the British pro-leave people realize quickly enough that they FUCKED UP MAJORLY

all they care about is non-white people.

 

[Lightning Count]

Watching the stocks for news on my bank right now. I am tense as fuck.

 

[UnderWaterTree]

Baystreet is Going To Be A Mess

 

[Newtype-001]

All the old people who voted for this are gonna end up wondering where the NHS went when they need it the most.

Just be like

 

[ClosingADoor]

All the old people who voted for this are gonna end up wondering where the NHS went when they need it the most.

"Wait, where did my retirement plan go?" are the questions going through their minds in a bit.

 

[Liljagare]

I am falling and I can't get back up.. :\


Hope things recover, never thought it would happen actually.

 

[pseudocaesar]

Does this mean California is now the 5th largest economy lol?

 

[ghostjoke]

Mandatory:

 

[A Fish Aficionado]

Does this mean California is now the 5th largest economy?

Don't tell that to our landlords. we've suffered enough.

 

[DirtyManos]

Does this mean California is now the 5th largest economy?

We keep winning! Bottles of water, all around!

 

[Majukun]

hopefully this will serve as an example for all those countries that are thinking about making the same choice,including mine

 

[Unknown Soldier]

Stop the trading pls.

The Brits don't have a circuit breaker? The Japanese halted trading briefly at -7%, the Americans have the same mechanism and it will trigger today in just a few hours.

 

[Betty]

 

[sono]

Trump and Johnson tag team. A new kind of special relationship.

It's the future.

Embrace it.

NOOOOOOOOOOOOOOOO

 

[commedieu]

Happy independence day!

 

[ReplacementPelican]

"Wait, where did my retirement plan go?" are the questions going through their minds in a bit.

You'd hope at that point they'd realise the fuck-up but they'd just blame someone else.

 

[fanboi]

Bu... bu... but we save 350 million per week!

 

[Betty]

Bu... bu... but we save 350 million per week!

About that.... https://twitter.com/m1897/status/746215377265266688

 

[geordiemp]

Wait until EU markets start tanking and people start to buy again.

Markets and turmoil = make money.

 

[fanboi]

https://twitter.com/LondonEconomic/status/746247581748068352

The London Economic
‏@LondonEconomic
The UK is no longer the world's 5th largest economy. The £ has fallen so far that France has overtaken us. #EUref

 

[Imp the Dimp]

I would never wish a country (or a conglomerate of countries) economic downfall but following this night's decision, I honestly think the UK should take a moderate nosedive to deter other countries from trying to leave too. I feel bad about the 48% but it's too late to do anything about it now.

 

[geordiemp]

https://twitter.com/LondonEconomic/status/746247581748068352

Yeah, UK FTSE is down 6 %

Bussels down 8 %

Netherlands down 8 %...

Dax only down 7 % - Germany is winning - look look look

Errrrrrrrr...Panic....buy gold....run for the hills


All that market value burned in 1 second in every country in Europe...Europe is worth nothing now..........LOL
It will settle down soon.

 

[Miles Quaritch]

Positive thoughts.

We must remain united. We can't give into fear and division. We just have to hope.

 

[geordiemp]

I would never wish a country (or a conglomerate of countries) economic downfall but following this night's decision, I honestly think the UK should take a moderate nosedive to deter other countries from trying to leave too. I feel bad about the 48% but it's too late to do anything about it now.

FTSE is down less than DAC and most EU indicies.

What does that tell you ?

 

[RedShift]

Ssh guys it's just fearmongering the economy will be fiiiiine

 

[Toxi]

FTSE is down less than DAC and most EU indicies.

What does that tell you ?

That you fucked yourself slightly less than you fucked everybody else.

 

[FortuneFaded]

Didn't we spend £350 billion an hour on the EU to give Syrian refugees mansions? We'll make it back in no time.

 

[Leyasu]

Of course there will be volatility, its to be expected.

 

[Ruddles72]

FTSE is down less than DAC and most EU indicies.

What does that tell you ?

UK economy is at least getting a boost from a collapse in sterling (and equities are an inflation hedge, weaker currency = higher inflation). Weaker pound is good for exporters. But I wouldn't read too much into the moves this morning. There will be a lot of settling down in the days to come.

Not much point rationalising share prices that right now are being driven by panic selling and extreme risk management / margin calls / stop losses. Wait and see what it looks like next week.