has written to david cameron saying he should remain prime minister. >> there is only one story dominating the news today. it is brexit. rishaad: currency markets, the pound taking an absolute hammering against a viret of them. hsbc in the mix here. down as much as 7%. the biggest faller we have had for the bank in the hong kong market in four years. here is heidi. >> a very, very difficult day to be a trader. it is what we're seeing. we spoke about these gyrations in the yeand pound. it is all playing out across the equities picture. we're seeing declines of about .3%. they have seen a lot of selling pressure coming through from asia. singapore stocks are down.

the other major decliner is sydney. the a.s.x. is down. oil prices have take an hit from this risk of sentment. to kospi down. the shanghai. the chinese markets have been fairly protected or sanguine about the results of these from the u.k. referendum. the china markets feeling pressure. closing the morning session down by 3%. the latest futures pointing to downside. when we reopen in about 25 minute or so, as much as a 6% decline. currencies are driving what we're seeing in equities but things changing minute by minute. >> thank you. results so far in the u.k. referendum subject a far closer race than the opinion polls had

implied. let's go to negligence ra. -- this is a trader on the barclays trader in hong kong. people are just in awe of this selloff. how are things panning out? >> yeah, well we are seeing leave pull ahead. you mentioned another thing to watch on the sbloob the brex go function. leave ahead. remain at 58.65%. what i have been watching and what is astounding how this has change throughout the night is the odds checker probability of a brexit. we're now at a 90% probability of a brexit on that odds checker. this was 90% bremain before we had a lot of these results in. we're seeing a real turnaround here. results coming in as i speak. bristol expected to be strongly

e.u. 56% remain. manchester was seen as strongly e.s u.. that came as a 56% bremain. this might not be enough to turn it around for the remain camp. >> what is the broader context around these latest results this >> we have a map that you can see. in two colors, blue for remain and a pinkie red for leave. 382 voting areas have declared. we're well into this results eriod now. london and scotland more in fave f remain and the rest in favor of leave. rishaad: just got to get to one of the brexit campaigners. one of the leaders of the brexit campaign.

here he is. >> being friends together. you operated together. let's get rid of the flag, the anthem, brussels and all that has gone wrong. [applause] let june 23 go down in our history as our independence day. [applause] ishaad: obviously a populist turn there let's find out what is going on elsewhere. >> the yen did briefly break through 100 per dollar. that is a level that had some speculating if the b.o.j. would trigger intervention.

let's bring in kevin from tokyo now. these movingst, quite amazing. kevin: yeah, if i could sum it up, i would just say everyone is stunned. not just myself although definitely me. people i talked to really just didn't expect it. globbley nobody suspected leave woult would put out such a strong show. i really should emphasize that people are citing thin liquidity. a lot of people don't want to take strong positions before there is an actual outcome known. that is exacerbating moves. a couple of people i spoke to think that the break of 100 is a temporary thing. last time i checked it was back at 101. we'll see. rishaad: kevin, it is not just of course what is going on, the sterling levels against the dollar, cable 135 now. we haven't seen this since 198 5, would you believe it?

kevin: yes, it is amazing. really sterling hit the hardest with obviously but it really is a demonstration of how much sentiment has swung since the beginning of actually since yesterday. the beginning of the asia day. sterling was up again and now just plummeting. really it has been one-way traffic in a lot of markets like the u.k. and japanese stocks. it has been just straight down. >> kevin, has there been any message coming out from authorities in japan about these levels? is there any talk of intervention soon? kevin: yes. isakawa has come out. he's not the person we hear from most. he is the official in charge of intervention. the current mr. yen if i can put hate the way. he called market moves today

rough. that is a sign that people should be on their guard. of course people have been talking about the fact that there won't be intervention, certainly not easily or unilateral intervention because the u.s. hasn't voiced support for the japanese rhetoric, but with the break of 100, it is a very, very rough market not just in the yen but globally. if the u.s. can get behind japan, then we'll see something. but i think we need to see a little bit more of a sustained break of 100 than what we saw today. rishaad: looking at all the action on the fx markets. let's look elsewhere when it comes to equity targets. hsbc down 8.5%. glencore down over 11%. what is going on? >> that's right. we are seeing some pretty hefty

selling when it comes to the markets here in asia. particularly hong kong. you talked about the top movers. these are the banks set to have the biggest downside exposure when it comes to a potential leave coming through the the u.k. referendum. of course hsbc, we have seen a downside close to 8% at the moment, the most since 2011. it was down over 9% at one stage. standard chartered about the same, 8.5%. losses pretty close to the session lows. the biggest since september. we're also seeing a number of ininsurers and players in the financial space feeling these jitters by way of a selloff. the most since 2011. this is really just a little bit of a snippet if you will of the broader selloff, the broader rick of sentment that is playing out when it comes to these asian

markets. we're still about 20 minutes away from the reopen of tokyo. we're looking at downside futures. we have australia low by 3, close 3% there. china markets, hong kong down by 3% and a quarter of 1%. that yen factor crashing through 100. even though it has come off that a little bit. perhaps that is just a temporary breach through 100. that is going to take a dent out of sentment. looking at yen 101 at the moment. you have to wonder if this is way past the comfort levels of the fwog get in there with some intervention. we'll be watching lines out of the bank of japan as the store continues to play off. take a look at the pound. what a story that is that has been so far today. we have seen the downside close to 9%. the lowest in 31 years. since 198 5, we have not seen

sterling at these levels. euro, pound, a similar trajectory that we're seeing there. we're also seeing this play out across the rest of asia of course. these i guess commodities-related currencies are reacting very, very adversely. the aussie dollar extending losses by 3% today. we did see this currency hitting a two-month high earlier. the tides have changed very, very quickly. we're looking at 7393 for the aussie. the kiwi giving back earlier gain wes saw this morning. flooding into safe haven assets, gold. take a look at the surge in gold. 3.5%. 1,300 dollar dollars now. we had a little bit of a retreat from those gold miners. a lot of analysts, a lot of nvestors were expecting that

the remain camp would have had a stronger lead. rishaad: this flight to havens, we have john with us to give us analysis >> john, take a look at what's going on now. i think it is just blind betting. john: blind? >> betting. hn: i think there has been a pronounced repricing. we have seen a very broad expectation for remain that has to be aggressively repriced. beyond that, we now have to start looking at the potential ramifications of the u.k. leaving. rishaad: what is that in english? john: let me put this in another way. there is a two-year period between the vote and the exit event. between that two-year period a lot of deals and trade agreements have been negotiated

in different ways. actually that two-year period can be extended with the agreement of both parties. what what is happening is a knee-jerk reaction to an unanticipated event. rishaad: it is weird, isn't it? at the end of the day, the policy are so tight. we have this balance of probability of one in four actually leaving. how can it be so skewed? john: u.k. pollsters have not been entirely -- rishaad: we have also the bookies as well who have got to make money out of this. you would think they would get it right. john:it is quite extraordinary. the flight to quality. i think now the u.s. dollar is going to strengthen quite substantially. we're already seeing that. this probably means fed hikes will be pushed back well into 2017. i think we can expect monetary easing in tuck and the swiss national bank. this has a profound effect on

asset allocation, the business that we're in. >> stick with us here. we're going to chat with you and continue our discussion here with john woods in two minutes. ♪

>> naturally our guests have been talking about a possible brexit. the executive director of the british chamber of commerce in hong kong said it will be a concern for asia especially in terms of trade relations. >> within the e.u., one of the biggest trading blocks in the world, britain has traditionally been one of the strongest voices for free trade for business freedom. i think from an asian perspective as they look forward to have -- the implications, asian economies which have very much benefited from freer world trade, there may be a concern there about the future direction

of the e.u. policy on free trade. rishaad: professor of european stories at the university of hong kong saying that the markets are surprised by the results so far. >> i do think this is happening -- it is a very polarized charged atmosphere. i think we can also see a little bit of the market jitters. people were thinking it might turn more strongly towards remain now. there are some results coming in that might suggest the opposite. >> he says voter profile will have affected the results. >> if it is the sort of people who are disaffected by politics and won't vote for anybody or anything but might come out to vote against something then that clearly helps leave. but we also know there are a lot of people younger adults in particular who don't normally vote. if they are the ones that are

turning out, that is good for remain. again, we'll have to wait and see which of those it is, but certainly on based on the results in the northeast, it seems that some of the leaveers who don't normally votes seem to be turning out in some of those areas. rishaad: coverage from across the world on the bloomberg headlines and reaction as it happens. use the brex function. this referendum, 49% remain. 51% leave. 2/3 of the areas reported so far. >> still got some ways to go . let's bring back john woods from credit suisse. have you seen markets like this before? john: yes, obviously particularly around the asia crisis. we saw them around the lehman crisis. the movement and the volatility that we have seen is on if not worse.

i can tell you volatility in sterling is much worse than it was during lehman crisis. the fact that it happened so quickly and expectedly adds to the extraordinary nature of market actions this morning and as well.into next week rishaad: we even have wales voting to leave here. this is quite an evening, quite an early morning there in britain. it is 18 minutes past 4:00. tell me something. sterling. we haven't seen this since 1985. this is having repercussions nobody anticipated. john: you're absolutely right. it is again an understatement of some scale. no one had this concept or idea. market pricing was obviously for a moderate victory for the remain campaign. and as we pointed out, we're

still 51-49. i suspect there is a mathematical probability that remain could still edge in the coming third of votes. but it appears increasingly unlikely. rishaad: we haven't had birmingham and a lot of london. john: you would think they would have a preference for remain. >> of course it is too close to call. when it comes to asia, who do you think is best positioned in a brexit? john: you might be surprised but we crunched some numbers a few days ago and learned that trade with the u.k. as far as asia is concerned is equivalent to something like.5% of the g.d.p.. to be fair, the direct trading relations is almost irrelevant. however it is the capital flows, volatility in sterling which is most critical for this part of the world. we are sensitive to volatility

in currencies and money exiting and leaving the country. this is what is concerning. rishaad: when you say you crunched these numbers, were you looking at visibles only or were you looking at invisibles? don't forget london has a profound impact. that is a trade flow. john: we were just purely looking at trade. rishaad: the visible good? john: the flow of capital from u.k. is actually huge. for countries like hong kong or singapore, which are essentially financial centers, these have very profound impacts on the fortunes of these countries. way tra that, the portion of g.d.p. are countries like china and korea. i think we would be quite cautious and need to analyze and examine closely the potential impact of continued volatility and dollar strength on those markets. >> we talk about just this british decision.

it is not just british decision that you're talking about, e.u. as well. what is the biggest at stake here? that david cameron could lose his job? is it economic ties? what do you think is the biggest thing? john: the re-examines of the european project. clearly if a country like u.k. is going to vote to leave it is entirely likely that you will have countries like sweden, denmark, italy, possibly spain also start to examine where they want a similar referendum. that puts it at risk. >> don't even have the political will to be frank. john: there is an increasing number of polls now that suggest the electorate of italy would like an opportunity to votes on a referendum. it hasn't gotten there yet. it has profound implications. we think it is likely the u.k. government would have to resign

after this. rishaad: we have to leave things. john woods from credit suisse. >> on the way, results from the brexit vote up next. we continue to take the vote down to the wire. ♪

>> markets are jittery as the situation in the u.k. remains a fluid one. let's go to david now. david: thanks. it is looking at the moment of course this could all change. 2/3 counted. it looks as if the u.k. will vote to leave. we're looking at the odds checker here. these are based on bookmaker quotes. we have an algorithm that basically gives you to implied probability that the u.k. leaves based on those odds and the

other side of that acquisition is you have brexit and remain. green line they stay. red line they leave. we had a convergence at about mid-morning here in hong kong. but the past hour or so has seen these two lines gwen diverge. can we get a wider shot so our viewers can see how wide these two lines are. i'm going to read this probably for you. we are at 96%. 96% that the u.k. leaves the european union. and we're looking at obviously the other side of that is about 9%. there is an overlap for overb mathematical reasons, but 9% that the u.k. stays. have a look at what's happening with the british pound. we are back at levels last seen in 1985. so this is a 35-year chart you're looking at. that's where we are just above

135. we were below that at one point over the last 20 minutes or so. that takes us all the way back to 1985. it is fairly extreme levels. we're looking at a fairly thin volume. you're going to be hard pressed to find someone who is going to want to take a position right now in the spot market. can we get the futures up? i actually have it here. i just remembered i put the chart in. ftse 100 futures. there is one part of the market seeing a lot of volume is this. we're seeing this down 464 points. these are september futures on the ftse 100. just a few hours until the open in tokyo. just very quick lirks i have been showing this chart all morning. really tells you something. measures the change in the price of the pound, 9% drop in pound

sterling. rishaad: just what is it? 4: 26 in london at the moment. let's take you to a shot of london futures are looking at the moment as if we're going to have a kick when it comes to u.k. equities. currencies taking a massive hit there as well. ♪ ?c+sv

>> we are over halfway in the u.k. referendum count. it appears that brexit is far more likely than the polls had implied. out, one survey said they would stay. rishaad. u.k. stock futures plunging along with the s&p 500. goal -- andn and gold both surging. show a deeply divided country. scotland and northern ireland

have voted to stay. wales is eager to go. those are the headlines on bloomberg news. charlie: the yen is being seen as the haven asset. he also got the rand at a record low against the yen. heidi: yeah, what a day it has been. going to give japanese markets a little bit of time to reopen up from the lunchtime break. every single sector being led by consumer goods. let's see how the route -- the japanese reopen has fared.

bact extendinge those losses. unexpectedly, sooner than expected. elsewhere around the region, we are seeing selling getting accelerated. stable in sydney can take a look at some of the members. we are looking at lowe's we haven't seen since 2001. prudential, the insurer listed in hong kong is at its lowest since september 20 13. a quick look at currencies, we have come up that 100 level that we hit right there when it comes to the yen. it is got to wonder if worried right now can i want to

bring up oil, because we did have wti extending those losses close to 5% coming off the session lows. on the back of the dollar strength we have seen. results so far from the referendum resulting in a far, far closer race. for are we? reporter: canned in in north in northting -- camden london voting 75% stay. seeing test swing preferencelly show a for leave. overall, that is how we see the preference. let me take you to the map on the bloomberg that shows you the

distribution we are seeing here across the u.k.. more than two thirds of the way through in terms of the voting areas. 200 81 out of 382 declared. you can see a clear pattern here london andnd and western england much more in favor of remain. where is the rest of england and most of wales voting in favor of leave at the moment. brexf we take at look at go, it is leave pushing ahead on that. remember, this was at 97% possibility of remain before we got a lot of these results. it has been a real shift towards leave throughout the night. : it seems that we have done a 180 in a matter of hours.

it really has been wild. can you describe anyway the move? nejra: we can clearly see how the mood in the markets has changed from what some have called complacency before we got the results, what is close to chaos now. we have heard people on this very program make parallels with lehman brothers. we have seen external removes in sterling, in the yen, in u.s. treasuries. in terms of the mood, as you can imagine, the leave campaign, putting forward quite a victorious tone. we had nigel farage speaking before and also treating "i now dare to dream that the dawn is coming up on an independent .k.." we haven't yet heard from a david cameron. a lot of people calling for his head. wouldw that his position be very much in question in any event of this referendum.

but now looks like leave is pulling ahead. we will really have to see whether the u.k. will have the same prime minister. yvonne: nice. rishaad: let's get some more analysis. we were just talking about earlier, whether this is brexit or remain. much to really look forward to. posterstill seeing that can be changed. john: it has a sea change groundbreaking applications right across the region. the particularly in the periphery as well. i think it is highly likely equities now selloff quite aggressively. i think the bones, the core government bond yields of the country are going to now rally quite aggressively.

i suppose that's why there is a negatively -- a profoundly negative impact on banks. they find it difficult to make money when the negative rates have this has a ripple effect. we are seeing it in the u.k. banks. you pointed out the extent to which those guys have been hit in the last few hours or so. there are ramifications right across financials in the eurozone. yvonne: they were talking about boe, mark carney might have do something in light of this. will there be a mobile response? john: i think that is excellently right. i'll come onto the renminbi in a minute. strengthening dollar has a monetary tightening effect anyway. but the tightening dollar is the consequence of a safe haven and is likely to encourage yellen to off interest rate hikes

the table. i think you are absolutely right. there will be easing measures by the boe in the u.k.. rishaad: do you think mark carney is going to start easing further? john: i think absolutely -- rishaad: but with inflation now and import cost -- yvonne: when they are going to raise hikes? rishaad: exactly. john: this is a very challenging situation. but the reality is market liquidity and over liquidity in the u.k. is drying up as we speak, in a very rapid way. is highlythat, it likely that we will start to see some monetary easing and a coordinated response particularly from european central banks. if we get to see a weakening of the euro, which i think is

likely, and a weakening also of sterling and the strengthening of the dollar, it has interesting invocations for the renminbi, which has held steady as a rock for a number of years now. the yen now we are seeing strengthening, which is actually providing renminbi with a degree of relief. rishaad: i don't get this why the yen is seen as a haven. yvonne: yeah. up next, we will be back in london as the city wakes up with the increasing likelihood of the u.k. leaving the eu. you are watching bloomberg. ♪

rishaad: you are back with "asia edge." nowtwo major networks are both projecting a win for the leave campaign. so it does look at the moment at

least according to those two networks we have a brexit on our hands. yvonne: remarkable. we just came on risk on from the u.s. and everything just turned. rishaad: it looked like, ok, remain. but no. yvonne: we are seeing the jet can, 10-year yield dropping. isning us now from london ginny murray. -- jamie murray. the pound will be sensitive to the outcome of the referendum. no one expected these results. he fact that the exchange rate moves so much as par for the course. it looks as though brexit is now the most likely outcome. it is a test to

our models. everyone was making predictions on how the economy would fare if there was a brexit your it looks as though there is a possibility and we will soon now know. rishaad: it is looking like that. it is a new reality essentially facing britain now. what does it mean for the country? what does it mean for the european project as a whole? is, from anritain, standpoint, an increase in inflation. the bank of england to respond with looser monetary policy. so for the u.k., that is our best guess. howeurope, a lot depends on britain's european partners treat them after the vote. if britain leaves, there will be a k pdf two years of negotiation potentially.

always the risk of course that some other countries will be queuing up for the exit. u.k. just waking up to this news. is now fromthe mood where you are asked to win the markets react to this in europe. that not justsee the [indiscernible] have been effective. are going to learn a lot more as various markets open this morning. rishaad: thank you very much indeed. hyundai nissan, these two companies -- nissan has a factory in washington, one of the most efficient in the world. down 9%. down stock as well.

yvonne: it will be a little bit more spare when it comes to not as much exposure to the u.k.. these stocks taking quite a punch today. heidi: the catalyst event talking about is really interesting us to why we are seeing the steepest declines in japan come as you say. it is not due to the exposure as to the instability that a leave vote will create, but the yen affect. the yen reaching 100. it has picked up a little bit. there is still that generation us with the bbc projecting the leave vote prevailing. look at accelerating losses now. we had futures pointing to the afternoon session. take a look at the biggest

losers. they are the exporters. they really seem to suffer from that stronger yen. own to worryas its about cap elsewhere around the region, hong kong also accelerating. petro china has now become one of the top decliners on this market or in this market. hbc is still the top decliners, falling the most since 2011, spearheading this path of u.k. listed in hong kong that have huge exposures to what is happening over there. a lot of volatility. very steepsome selling going on in the asian market. yvonne: thank you. to 5:00 a.m. in london, the u.k. waking up to the that theg possibility

country will walk away from the european union. stocks taking a hammering in this part of the world as well. and edwards and magnus carney will be leading our coverage. i haven't seen anything like this before guys. anna: good morning to you. really, a phenomenal event taking place here. we should underline that these are just projections we are going off of at the moment. but all the broadcasters in the u.k. are projecting that leave has one out. of 382 town teeing areas declared, we've got 51.7% have gone leave. and 58.33% remain.

so incredibly close. this will not be lost on anybody either. what will the policy response be? i know the bank of england has $140 billion in terms of x reserves and in terms of gold reserves. this is the irony. the bank of england can't raise rates to defend sterling. it's a dramatic move here is not a done deal yet. respond?o you what will the policy response be in the world of 0% interest rates? they can go from 10 to 12 to 15% as they did then. why you that's probably see stocks in your part of the world under such pressure. rishaad: that $140 billion is worth a little bit no -- a little bit more now, isn't it?

magnus: if you look at the average man on the street, the reality, if we had voted for a says, theres ann is still a lot of results to come in but it is looking more and more like it, yes, possibly you don't want to the with the currency that loses its reserve status currency. potentially, horny to people we have spoken to, perhaps the credit rating comes into question. that's good for the manufacturers. anna: the credit rating would go in the event of a brexit. other agencies have commented as well. big political question of the weekend. the questions about the future david cameron. people from his party have signed a later campaigning for leave. they have signed a late -- a letter saying they wanted to stay long enough to deal with the situation.

magnus: force johnson last night. anna: we will be spending the day tracking get to grips of what that means. guests a host of attacking this from all angles. we have reporter stations all over europe. we have some great guests. we are going to pick up that fx discussion. the red headlines keep coming across the terminal, in terms of gold come a markets. you interviewed this guy the other day. anna: a tory mp, someone who led ae market rebellion, rebellion in the conservative party back in the 1990's. he spearheaded the leave campaign from the back row, if you like. so many decades.

he described to me it is the battle of the sulfur united kingdom. we will talk with him what the about thelt tells us polls. he has some really interesting views about where we go next in the negotiations with europe. magnus: one thing to remember is voteshe united kingdom , the reality of it is, of course, things are going to get more expensive in this country. we have megan green joining us. is the imf right? will we see recession? will george osborne have to go budget?this ofa: we've got a number businesses campaigning for

remain. we've got both sides covered. but a couple now showing very remainn campaigning for and they talk about how they see things now this morning. rishaad: all right -- yvonne: all right, thank you. , more analysis of the referendum with a u.k. facing a new reality outside the european union.

rishaad: welcome back. yvonne: we are looking ahead is zero come in. but bbc and sky news projecting that the eu. that's get more analysis from john wood. rishaad: there will be recriminations about this in all political circles. david cameron will be center stage and people will be asking why on earth -- what was his upside for calling this referendum in the first place? john: virtually zero upside.

now you have an infinite amount of unexplored downside here in obviously, it's going to be, as you say, some serious recommendations. labor didn't want it, if memory serves. didn'tsomething they want to touch. i suspect the only reason kamman did it was to implicate his eurosceptic wing in the tory party -- rishaad: have they defeated are not? yvonne: this is not binding though. they're still a lot of uncertainty after. of peoplehere's talk the house of commons challenging this legally? is difficult to go against the will of the people, especially in a referendum. there was a two-year period where business deals could be written negotiated before the u.k. technically left the eu. and it could well be that perhaps another round of

concessions from the eu, such that the british people are once again persuaded to remain. it's a form of bracelet ship, i guess. thatad: david ingles says a trillion dollars wiped out this morning. the benchmark index, 4.3% down. the worst for asian stocks in four years. john: bear in mind, this is not about direct trade of goods and .ervices it is more about the volatility. and the equity markets, it has to be profound negative. yvonne: who is it going to be if not david cameron? morse johnson?

rishaad: obviously supporting his prime minister. [laughter] john: i'm not going to get into that. certainly, we think that the u.k. government will have to resign on the back of this, if indeed the referendum is in the leave cap. rishaad: what are the longer-term market applications of this? becourse, you have to talking to your clients this morning. what will you be telling them? john: we went into this referendum underweight equities. our clients are already from an asset allocation perspective underweight equities, for which we are grateful for. and we will likely now go more underweight. yvonne: how long? john: we will look quite

cautiously at markets in europe and the u.k.. low, it is hard to get particularly excited. i think credit is a bigger risk. rishaad: everybody has been rushing in there the forehead. is the major that takeaway. the u.s. dollar -- do you think that the economic fundamentals supported? the dollar should be the main beneficiary. john: i think the swiss franc is likely to benefit as well. already, we are seeing that. absolutely. i think the safe haven names are really going to start receiving that bid for quality. as we discussed earlier, i think it's good to have quite a profound effect on monetary policy by central banks pretty much across the board. yvonne: is this going to speed up what japan is good to do? we talked about the july meeting.

john: i think it is now more likely to happen. but you have to question what, in this environment, will have a profound kind of effect. be lookingiews will at decisive action from the boj against these moves. rishaad: it is below 100 pounds. [laughter] yvonne: what is your projection for the yen now? fitbit -- does everyone recalibrate all of their forecasts? where can he go from here? volatility isl of difficult. three or four hours ago, we wouldn't have considered having this conversation on the dollar yen at the sorts of levels it is too crazy to talk about. i don't know if there is a rover reaction? i suppose there is some

overreaction in the initial hours of this. i suspect markets would have stabilized somewhat more. and then we start looking at medium-term forecasts. rishaad: always love having you on the program. it is coming up 5:00 a.m. right now in london. let's take a look at what is going on over there. we have some images of central london, i think. is this is wales. what we really have at the moment is whales also voted to leave the european union. scotland certainly went in the other direction. scexit,d this lead to a a scottish exit? yvonne: the city of london just waking up to the news. the u.k. projected to leave the eu. rishaad: this is all happening on the markets as well. na to seeagness and an

this through. we have a broad base markdown when it comes to equities in this part of the world. and u.k. related shares. absolutely pummeled. -- e got a 9% this is what we have at the moment. magness, anna, it's all yours. it is the brexit. the bbc projects the u.k. will leave the european union. fallingd in a tailspin, to a 1985 low, where futures doing a 7% drop at the financials brother broad. hsbc, potential and standard chartered tumble in asian trading. welcome to "countdown," everybody. magnus: we are live in