Global markets are already reacting to the decision by U.K. voters to leave the European Union. The “Leave” voters won by a tiny margin in Thursday’s referendum, edging out those who wished to remain in the political and economic union by just a few percentage points.
That came as a surprise to many, according to Michael Hewson, chief market analyst at CMC Markets in London.
“The betting markets had really been banking on a 'remain' vote," he said. "Certainly the direction of travel for equity markets and the pound had pretty much been a one-way bet all of this week.”