the uk still is within the eu. think we need to remember that when we look at the outcome here. but you know, we've never seen a country leave the eu. so this is a complete unknown for everybody. and i think for these eu leaders and the institutions here in brussels they don't even know necessarily how to go about this or even who they're going to be negotiating with because for prime minister david cameron of course this result a shock. and you could ultimately see him decide perhaps he's not the right man to lead this country given he was on the opposing side. there's a whole host of unknowns here. >> julia chatterley, what kind of message does this deliver to the eu about the way it has been doing business, about the perception of the incredible growth of its bureaucracy over the decades of its existence? is there any kind of message there that will be received to indicate that maybe they've got to change the way they are perceived, change the way they do business? >> reporter: there is a huge message in this re

after the uk voted to leave, the u.s.poke with the british prime minister on the phone. >> barack obama told david cameron the special relationship remains a key part. >> mr. cameron had campaigned heavily to remain in the union, now he is stepping down and wants a new leader in place by october. >> i think the country requires fresh leadership to take it in this direction. i will do everything i can as prime minister to steady the ship over the coming weeks and months, but i do not think it would be right for me to try to be the captain that steers our country to its next destination. >> rob nib let is director of chatham house, back with us for more anallis aboysis about who e the uk's next prime minister. thought? >> boy, thoughts. i think the big question is whose hand do the conservative party want to have on the tiller of what is going to be a really difficult negotiation. >> that's where boris is divisive. >> look, if you've called -- compared the eu to hitler, you're wondering how that, as your lead negotiator, is

the unemployment rate in the uk is 5%. the eu is 10.8% and greece and spain its 20 it's 20% plus that's why so many people come here. the economy compared to the eu is doing very well in yes it does lead to conflict because people say i go to the doctor and i can't get an appointment, my kid is in the school where they are overcrowded and they're having to build extra classrooms just to get everybody in. that's one of the aspects. the selling point for the campaign was they want to go to an australian style points system on immigration in the uk whereby you gain extra points if you have a degree in how long you have been doing your job and so one of if you reach a certain level you be eligible to come into the uk. it's one of those issues. certainly i think those sides of this argument terse, the downside being over exaggerated in the upside has been over exaggerated. there's a little bit of truth on both sides of this issue but the bottom line is its control of the border. british prime minister david cameron said i can ke

the exiters have won. uk voters backing to leave the european union. >> and when we went to bed and when british voters went to bed last night, the markets. the betting odds and the polls all had it wrong. all suggesting that the uk would vote to stay in the eu. the opposite happened by almost 52% of the british population voting to stay. it was a large turnout despite the rain, correct? >> um-hmm, absolutely. >> and overwhelming win. >> extraordinary developments. totally unexpected. unexpected a year ago. unexpected when the date was set in february. unexpected late last night. the polls coming out yesterday suggested this vote would be remain. of course markets were priced for that. that means the reaction this morning has been severe. let's get to the pound first which is the eye of the storm. we hit a 30 year low of 132, around 5:00 a.m. local time about midnight u.s. time. off the lows now but still down sharply. the pound at 138, off about 5 or 6%. >> and what we've been hearing from strategists and tr

the process of trying to extricate the uk from the eu.ant to try to protect scottland from that. >> david torrence is a political commentator and author. would you mind interpreting what she was saying there for the wider audience. >> well, basically, she's presenting a bit of a contrast between her sort of cool authority and leadership terms and the stability of the situation in scotland with what could reasonably be depicted as chaos and a political vacuum in westminster. her plan is to try to find a way of keeping scotland, which is part of the ukn still part of the uk in the eu or in the single market while the rest of the uk starts to negotiate its extraction from the european union. >> she has a nuclear option, doesn't she? she outlined that or suggested it. she's suggesting the law dictates that the scottish parliament could block a brexit. lawyers are sort of discussing that as we speak. much more qualified people than us. douglas coswell kept telling me there's no way that scotland has any say in this. it will all be decided in p

and in the uk. there are a lot of people that feel that the recovery hasn't reached them, and so that makes them question the global status quo. >> a bad day for david cameron is a good day for boris johnson. everybody remembers him as the outspoken mayor of london. do you think -- and he also was one of the leaders of the leave movement. do you think he's looking at the next prime minister? >> the guy has great hair. >> from one man with good hair to another. >> i think if you talk to people that know boris johnson, have talked to him repeatedly over the years, there's been no question he's always been eyeing the possible of ility of it. there were a lot of questions two or three years ago how serious he was as a politician, as an individual. that seems to have dissipated. it would be fascinating to see him in that race, but i don't think there's any question that he wants it. >> doug, i want to get you to weigh in on that. you know him. you have worked with his us a. he also said something interest

the uk voted to leave the european union.d trump expected to make a speech and the goblins at 6 am eastern time. in england boris johnson, former london mayor who campaign for great britain to exit the european union is expected to deliver a statement at 6 am eastern time. britain's total contribution to the eu has been set at $21.4 billion this year. germany, the eu's largest member, would have to provide the most extra cash. adam shapiro live in berlin with the latest. lou: we would hear from the chancellor of germany, angela merkel, in 45 minutes, she will issue a statement on the uk's decision to leave the eu. she is not taking questions but several people have questions and one is a woman from scotland who lives in germany for the last we 4 years, elsa glynn joins me. are you shocked your countrymen in the uk voted to leave? >> i am very shocked. i had expected those in favor of remaining would win. >> reporter: what happens to you, your livelihood living in germany now that there is so much uncertainty? >> to be honest

in particular with the uk. a lot of people waking up bop derring how this impacts us here at home when it comes to the economy, how we should be thinking about this. obviously, folks in the uk are feeling uncertain and unsure of how it is going to move forward. how should we at home here in the u.s. be thinking about the news with the uk leaving the eu and the prime minister stepping down a long-time friend of president obama and a huge ally for us. >> the word is turmoil. everybody is uncertain about what this means in the near term. so i heard you guys say it throughout the morning that markets hate uncertainty. boy, is this an uncertain situation. i am still trying to digest this myself to figure out why are people so terrified by this event. the big question right now i'm looking at the immediate question is when the stock market opens, the u.s. stock market in a few hours, will there be a cessation of trading. we have what's called these circuit breakers which stop trading when the market falls by too much

and the uk striking out on its own. explain how close this vote was and if there's going to be contagion within the eu. >> thomas, it was close. it was very, very close. about a million votes between the two sides. the implications, people just don't know. that's why you're seeing stock markets drop. you're seeing the british currency tank because there's nothing that economists hate more than uncertainty. if you just lay out the news. you talked about one piece of news. it's news after news after news this morning. the british prime minister resigning. questions over the leader of the british opposition. lawmakers in northern ireland and in scotland calling renewed calls for independence for those two places. across europe, political leaders saying they'd like to see a referendum, too, raising questions about the future of the eu itself, thomas. what will happen in the next 24 hours will have a huge influence on where this goes. will britain and the rest of europe figure out how to compromise and move forward? will they

but also right now in the uk. i want to head straight over to london as we continue watching futures market. investors very rattled here in the u.s., with the dow off more than 200 points. ashley webster live for us in london. ashley, give us the latest. reporter: you know, trish, i was looking at these latest numbers, the leave now just slightly ahead of the remain. i mean it is absolutely on a knife's edge, 50.1% to leave. 49.9% to stay. so i think it is very fair it w. we thought by 4:00 a.m., local, 11:00 p.m. eastern in the states we would have a real sense where this vote was going and that is not the case. it has been a surprising evening. those areas we knew would vote to leave a done so in greater numbers. those who have voted to remain as we expected have done so but perhaps not as strongly as we thought. london could be the key. this area, four million plus voters are expected to has been up to this point three to one voting to remain but is that enough to outweigh appears what the rest of the uk is sayi

the u.s., uk, and israel, however, do not. ffer on the number of people killed. armenia says some 1.5 million died. turkey says it was about 300,000. >>> brazil's only accredited lab to test for illegal drugs among the olympic athletes says it hopes to get its license back after it was revoked in time for the summer olympics in six weeks. the brazilian doping control lab was suspended friday. our nick paton walsh tells us why. he's in rio. >> reporter: to be clear, we don't know the precise reason why wada have suspended this key laboratory in brazil. the brazil doping control laboratory where 6,000 samples will be processed or should have been processed during the games. but they are clear this isn't a series of misdemeanors because when these facilities are inspected, they can for small issues and incurring points, result in a suspension. that wasn't the situation here, i'm told. this was one issue that was serious enough that merited the suspension. now, a spokesman for wada when pressed whether or not this could be clarifie

at risk, 10% of the uk economy could be at risk as well. we're talking about a decimal of uk. reating this enormous risk on the back of this. when we think we're getting brexit. gold aggressively higher. the pound goes to 1.40. we've seen the best from the pound in years. we've seen the ftse and global assets as well. and this is it, it's the art of the impossible, which i think people whether in states or in europe, could this create a domino effect. many who don't want mr. trump in the white house, saying is that possible, the brits leaving the eu, is that possible? many think that it could circle the wagons. could the finns go, the danish, many are worried about the same as the brits as well. i think that's why people are concerned not just because of the british economy, we are because we're british. we're a stone's throw away from westminster palace. we worry what's going to happen next. >> this has been a pressure valve for expressing your frustration. credit lines withdraw, consumer confidence fell off the cliff, and we've spent a long time now trying to rebuild that con

for how leaders here at home are viewing the uk vote. r barnes will join us from washington in a little bit. lauren: democrat status it in on the house floor to demand a vote on gun control legislation. congressman john lewis meeting 200 lawmakers refusing to let republicans resume regular business until the house voted on gun control. 10 hours later house speaker paul ryan convened the chamber to hold a brief series of votes speaking loudly over the protesters. take a listen. >> the chair would hope the business of the house could be conducted in a fashion the represents and respect positively on the dignity and decorum of this institution to which we all belong. nicole: neither of the votes were related to guns. is democrats democrat for the house, the house has adjourned after voting on a final spending plan to fight the zika virus. lauren: the war of words continues with donald trump and hillary clinton trading jabs. donald trump attacking clinton's actions as president obama's secretary of state and her conduct as us senator. >> a wo

we do no the uk equities are a lot cheaper because the pound is cheaper now. we do know uk equities are cheaper because they have come 4 or 5% today. does this make uk actually medium term more attractive than europe as a long/short play? or a relative value trade because -- >> i can't help but see an irony here that it is very european not to have a government. i think if you look at historically phases of political uncertainty where you don't know what the make up of the government is do not necessarily weigh that heavily on the economy. now there is a particularly uncertainty here, which is firms that would be investing in the uk with the view to exporting or selling their services into the european union have a degree of uncertainty that is particularly unusual. so it is logical to expect that to weigh in investment spending. but there are two critical issues, which is we don't really know what a leave means. we're going to find out now. >> got to rush you on the second one. >> and the other is how is europe going to respond. that is the big unknown. >> fab

the uk is the first country to vote to quit the eu. it could impact the regional bloc significantly. >>> now that uk voters have decided to leave the eu, here is what will happen next. the uk needs to formally notify leaders of all the union's member states of its intention to leave. there is no time line on when that has to happen. once the notification is triggered there is a two-year window on negotiating the new terms of membership. officials are concerned the first exit of a member nation could trigger a tide against european integration. in places like denmark citizens are campaigning for their own referendum on their country's membership. and in other countries across the eu, including france and germany, criticism has grown over the handling of the migrant crisis. the eu has also been criticized for bailing out greece from its debt crisis. eu president donald tusk held a news conference after the result of the referendum became clear. >> there is no hiding the fact that we wanted a different outcome of yesterday's referendum. i

that is also what you see with the trump effect. uk phenomena is tied at the hip with the donald trump effect in the united states. the question is can mr. trump ri very interested in supporting. when you think about it, you think about an economic and national security standpoint. it seems as though what we sell, again, onull display in the uk last night, very similar to what is happening here in the united states. >> i think that donald trump has one the sovereignty. the people for whom the sovereignty issue mattered. people who want to secure a border. a little bit put off by his style. the way to do that, focus on the economics of the last seven years. look at the unemployment figures. look at the working class. the blue-collar reagan voters who he can feel loss if you ratchet the rhetoric back slightly and focuses just on the statistics of the american economy. trish: doctor gorka, thank you, as always. >> thank you. trish: a sign of frustration worldwide. so many voters have with the status quo. some trade policies that are worki

it was a deeply divided vote in the uk. 8% wanted to stay. as a result, british prime minister david

he met with relevant ministers following the uk referendum. they included finance minister taro aso and a deputy governor of the bank of japan. >> translator: we're concerned about the risks the referendum results will have on the global economy and financial markets. it's necessary to ensure stability in the markets. >> abe says the g7 leaders agreed at the ise-shima summit in may to take appropriate policy responses in a timely manner to avoid an economic crisis. he says japan will work for global economic growth and market stability, in line with the agreement. >>> finance leaders from the group of seven nations have pledged to continue to consult closely on market moves and financial stability following the uk decision. aso chaired an emergency teleconference. >> translator: g7 finance ministers recognize that excessive volatility and disorderly movements in exchange rates can have an adverse impact on economic and financial stability. >> also aso said central banks have taken steps to ensure adequate liquidity as well as to support the nor

is this also the end of the uk as we know it? xt. ♪ the sun'll come out tomorrow... ♪ for people with heart failure, tomorrow is not a given. but entresto is a medicine that helps make more tomorrows possible. ♪ tomorrow, tomorrow... ♪ i love ya, tomorrow in the largest heart failure study ever. entresto helped more people stay alive and out of the hospital than a leading heart failure medicine. women who are pregnant must not take entresto. it can cause harm or death to an unborn baby. don't take entresto with an ace inhibitor or aliskiren. if you've had angioedema while taking an ace or arb medicine, don't take entresto. the most serious side effects are angioedema, low blood pressure... ...kidney problems, or high potassium in your blood. ♪ tomorrow, tomorrow i love ya, tomorrow.♪ ask your heart doctor about entresto. and help make tomorrow possible. ♪ you're only a day away ♪ >>> welcome back. i'm brianna keilar in for brooke baldwin. on this historic day for the united kingdom, it's no longer united. the people of britain dec

first of all, who will leave the uk. ne by october. >> not nearly soon enough for the founding members of the eu. they want him out sooner potentially within days, maybe weeks. that sets up the fight over who will replace him, a decision that will have a major impact on how the divorce from the eu will proceed. let's go to clarissa ward in london. prime minister cameron says that the uk needs those months to make sure that this is a smooth transition, but the founding members of the eu say let's get this on the road, few days at the most. >> reporter: that's right. well, divorce is never easy, but what we are witnessing here is the beginning of what is likely to be an extremely length any and very difficult negotiation process. we heard just now from those eu foreign ministers that they want to expedite this, they want to get the brexit starting as soon as possible. this is in stark contrast to what we heard from prime minister david cameron yesterday who said i'll happened ovnd ovee months. pro brexit leaders wanted it t

>> there is that sense that when you pair the uk economy to the eu, the uk is doing better. he eu is up under 10% and unemployment is 5% of the uk and 10-point something% of the eu, 20% in spain and greece of economy by comparison to the eu is doing better. like the united states wage growth has been slow in the uk. i kept up with the cost of living so you can argue that has ramped that. the economy was certainly one of the issues where, where's the growth coming from and the concern that the uncontrolled borders the migration of eu citizens to the united kingdom because the economy has led to a strain on the medical system on the school the education system and also jobs that are being taken from people from overseas. in some cases that may be true in other cases it's not but ultimately it comes down to sovereignty not to have brussels tell this country what to do and not to have the court of justice on legal issues tell this country what to do. that resonate with a lot of people and david cameron and all the fear-mongering started to backfire just a little bit. david beckha

now that the uk voted to leave the eu. rick, i know you were in a camp that wanted them to vote leave. it was a strong victory for them. what happens next? >> we have 28 countries in the european union. what we have seen over the last 5, 6, 7 years is a serious difference on immigration, economic policy. so the difficulties that the eu has had has caused them to have the lowest common denominator of a policy and that never benefited the british people. the british always tried to make the policy tougher and they have always been on the losing ends of that. i think now what we'll see is a stronger great britain. they will have a stronger border system and economic policy. charles: the economic policies, they still have universal healthcare. they have things that are anti-growth that cost a lot of taxpayer money. are necessity going to be able to shift into to free wielding, free market society? >> no, they left of the united states, for example. but the financial craziness and the panic will wind up looking like y2k in a ye

spoke to people from the uk. i showed you video from polling in the united kingdom there were brits here who already voted early and they were telling me, i heard this from a couple of people their hearts were to leave. they were in favor of "brexit" but their heads they said, vote to stay. so despite their hearts saying leave, they voted to stay. that is a small group of people we spoke to. but here in germany angela merkel talking about the fact she hopes, this was just today at a press conference, she hopes that the eu will remain intact with the uk voting to stay within the eu. there is also the fact that they're looking ahead to the future. the chancellor, or prime minister from france will actually be coming to berlin ahead of an eu summit in which eu leaders from all of the eu nations will be meeting in brussels next week, talking about how they go forward no matter the outcome from the vote in the united kingdom. there was an incident today in germany which distracted people for a few minutes. it was takin

in the uk it's been a hard-fought battle. e last few weeks polls showing it was incredibly close and it was going to be -- you could go either way. and then really not an awful lot has changed, more people coming out, including the international monetary fund warning the uk could go into recession. but that wasn't -- to me, that was never going to swing it one way or the other. then of course we had the terrible murder of jo cox, british member of parliament and pro-european or and she was shot by a man who was shouting "britain first." he's now been charged with her -- he's the alleged killer and has been charged with her killing. and a lot of people said after that terrible moment that if you were an undecided voter, i think there was an assumption that undecided voters were likely to want to remain and that -- >> they would be repulsed by that? >> yes, the whole of england was repulsed by that. >> yes. >> shocking. in the uk shooting deaths are thankfully quite rare occurrences. this is a terrible, terrible moment. and in f

in the uk, it's falling back five or six months. & a point of view there has actually been a steady flow coming through. and that goes the other way with the buyout by monsanto. it looks as if the global manufacturers are not deterring companies from look at acquisition. >> at the same time, it could be beneficial, though, turning it around -- could be beneficial in the event of a brexit because if a pound drops wouldn't companies want to buy british companies all of a sudden? >> yes, certainly, if sterling were to fall -- it's speculated that it might, that potentially that could trigger interest in the uk company. >> you mentioned very low rates and there has been some concern that people really aren't taking full advantage of borrowing at these low rates to put m and a aside from that, when do you expect it to pickup. >> if you look at credit under normal strain, because it's a stress test that it might change credits now leaning in the right direction. if you look at the constituent growth, it could make a return. so, it's very

the same way. hollande saying we want it quick. and uke a prime minister, we'll have to wait. and legally it will be really difficult to accelerate all that. so will france and germany really stick together? on the big principles, i would think so. but it would be difficult. >> the last question, this was a european project put together to ensure peace and security. which we have had to all intents and purposes over the past 60 years or so. it was more about peace and security than it was about prosperity. it's become this economic project, but it was always a political project. >> i think the other way around. the idea was to make it economy in order to bring peace and prosperity. >> fair enough. but in the end, the economic integration never really worked, did it. my question to you is, is this a project limping towards disaster? >> i think we are confusing two things. the european union which more or less actually kind of worked and the eurozone which has been a pretty bad result in the last 10, 15 years now. and that is really hard to

the uk will be fine with having this. ere will be a difficult time getting it sorted out especially when leadership there doesn't want to do it. to be told they will go in the back of the queue is terrible. why donald trump stood up, hey, when i'm president you will not be in the back of the queue for this. deirdre: as plenty people point out he takes a lot of heat for track additional politician. he was clearly in the right place at right time for the uk vote. >> yes. deirdre: he was there for golf business but not politician but he was there where big decisions were being made. jeff dewitt, thank you as always. >> thank you. deirdre: state treasurer for reuters. >>> volkswagen reporting that -- reuters reporting that volkswagen diesel settlement will cost 15 bill dollars. the amount and amount was recently unknown. 5,000 u.s. diesel owners will receive some of that. the cost including $10 billion for buybacks to owners. 5 billion in funds to offset excess diesel emissions. >>> my next guest says the british exit is the b

it does not exist in the uk for europe and affect should not exist in the 27 for the uk. it's a matter of good, fair, of course, but tough negotiation. it is unavoidable. >> mr. trichet, good to see you, sir. this is not the result you wanted to see, but we live with the result we've got. the british people have spoken. thank you, sir. >> and the latest we're hearing as we get more reaction from around the world as well is that the kremlin spokesman in russia says he hopes britain will understand the need for better relations with russia now that they'll be dealing with a britain outside of the european union. we are going to take a quick break now and come back with all the reaction from the markets as well. you can see the way things stand at the moment. the pound took a real hammering at the start. it's climbed back a little bit. markets affected across the globe in the aftermath of that decision, that referendum result. ♪ you wish your dog could fight off fleas and ticks. but since he can't... you rely on frontline plus. because frontline plus unleashes a deadly killin

and europe and the uk can manage through. ve seen policymakers act in a very responsible way in the days leading up to and through the vote. there's no sense of a financial crisis developing. >> lew urging world leaders to work together to provide stability and confidence to markets and to the public. and he said more had to be done to promote the benefits of globalization. but he said that any new trade agreement between the uk and the u.s. that would have to wait for the u.s. >> we have been negotiating a trade agreement for a number of years now. that negotiation is ongoing and it will continue. any separate negotiation with the uk will have to take a course that is in part determined by what happens between the uk and the eu. >> so have to wait for the agreement with the eu. meanwhile, he said that the treasury was watching exchange rates very closely. and when asked about what you guys were talking about the sharp selloff in european banks, he said not all institutions have the same degree of safety and soundness. he said

more analysis on the uk leaving the eu when we come back.re with us. more analysis on the uk leaving the eu when we come back. t moor with us. more analysis on the uk leaving the eu when we come back. eve mog with us. more analysis on the uk leaving the eu when we come back. (man) oh, looks like we missed most of the show. (woman) and there's no way to restart it. (jon bon jovi) with directv there is. ♪ you see, we've got the power to turn back time ♪ ♪ so let's restart the show that started at nine ♪ ♪ and while we're at it, let's give you back your 'do ♪ ♪ and give her back the guy she liked before you ♪ ♪ hey, that's the power to turn back time. ♪ (vo) get the ultimate all-included bundle. call 1-800-directv. [ woman ] thanks. the dealership reviews on cars.com made it easy, but... [ man ] we thought it might be a little more tense. you miss the drama? yeah. [ technician ] ask him whatever you want. okay. ♪ do you think my sister's prettier than me? ♪ [ laughs ] [ male announcer ] research, price, find. only cars.com helps you get the rig

the uk will be sailing solo into unchartered waters. ch. >>> his music made a comeback when it appeared in the george clooney movie "oh brother where art thou," the life of a bluegrass legend coming up next. when you airbnb, you have your own home. so, live there. even if it's just for a night. my lineage was the vecchios and zuccolis. through ancestry, through dna i found out that i was only 16% italian. he was 34% eastern european. so i went onto ancestry, soon learned that one of our ancestors we thought was italian was eastern european. this is my ancestor who i didn't know about. he looks a little bit like me, yes. ancestry has many paths to discovering your story. get started for free at ancestry.com >>> welcome back to "the lead." hillary clinton is pushing back about reports about transparency during her state department tenure. the associated press report found 75 instances when the then secretary of state had meetings with political allies or corporate interests, that they were not recorded or the state department calendar. a c

east issues or the russian issues or whatever the threat of the day is, and earlier i caught up with the uk foreign secretary philip hammond and asked him if he thought that the u.s. administration, president obama included, to be upset by britain's leaving the european union. >> the united states regards the eu as an important partner, and it is the only block that is larger than the united states, itself. you think that the u.s. administration, the u.s. government regards britain as a like-minded partner. they are trying to ensure that the european union maintains a transatlantic outlook in the open and free trading world to the world, so the diminution voice of britain in the european union is going to be upset to the people of the u.s. >> and now, whether putin in russia would be celebrating this by the british people, and he said that he suspected that the kremlin would be calculating and less likely to maintain the robust sanctions against russia, and he was essentially explaining the point of view, because the u.s., and the uk share the similar view s ts on foreign policy, it is impo

mirror issues of the uk voted on today. certainly we'll see this as a good indication for how his campaign for the white house might go in the future. >> yeah. he is talking about how angry the voters are in the uk. that's how he's interpreting the vote and this is foreshadowing of what could happen and the wind at his back as far as his campaign. how much do you expect that to be part of his remarks? >> reporter: i think it's a big focus of the remarks. a number of reporters will asked him repeatedly about why he believes it's a good idea for the uk to leave the eu, how he believes that will play out and the consequences in the markets right now. we're seeing the markets down significantly with the idea that the uk will no longer be a part of the european union. why does he believe that's a good idea and why does he think it will ultimately stabilize out? ultimately will be more beneficial in the future. he's also facing questions about his campaign period and he's gone through a rough patch lately, he's down in the polls.

it was a deeply divided vote in the uk. in the end, 52% of the voters chose to leave. 48% wanted to stay. as a result, british prime minister david cameron announced he would be resigning. >> i will do everything i can as prime minister to steady the ship over the coming weeks and months. but i do not think it will be right for me to be the captain that steers our country to its next destination. >> the fallout of the markets was tafast and furious. global markets tanked. british plummeted, close to the lowest level this 30 years. here in the united states, the dow went into free fall when the markets opened shedding 520 points. take a look at the numbers right now. they certainly are not much better at all. president obama who had urged the british voters to stay in the eu put out this statement and i'm quoting him now. the people of the united kingdom have spoken and we respect their decision. the special relationship between the united states and the united kingdom is enduring. so too is our relationship with the european

they will not be including a member of the uk. set a timetable of which they would like according to mr. hollande to have some kind of framework in place by september to begin the negotiations for the uk to exit. liz. liz: adam shapiro, thank you very much. and we have this breaking news right now. hillary clinton has just taken the stage in chicago, illinois. giving a keynote on the international women luncheon circuit at the 50th ran bow bush core litigation. talk about women's rights, gun control so far, we are monitoring it. we're we're listening and we will bring you things as soon as there's any news information. we promise you. we're about 49 minutes from the closing bell, dow down 287, watching the s&p level, right now at 1998. 1990 is the floor, 2005 is the ceiling. hold your horses. that's what ubs bank of london says what it comes to buying anything here. to buying equities. they do not see a down day like this as a buying opportunity. let's bring in the experts, do they agree? i've got john here, here with me on the fl

this is a long-term process that the uk has begun. it could lead to further unraveling of the european union. i think there's a lot of risk out there. morselling to co-- more sellingo come. i don't think we've hit bottom yet. 10, 20 years you'll find stocks you like at bargain prices so you'll buy those. but this is going to be a market event for some time to come. >> john, what do you think? individual investors have to be asking themselves what do i do now? s should i buy this dip as was popular since the market bottom in 2009? would you be i woubuying this d? >> i was with ron until he got to 10 to 20 years, i don't think it will take that long. we have to go through vuchlt. the market got sucker punched. we thought it was going to be okay, all of a sudden it's not okay. so we have to adjust to that. we still don't know what exactly is going to happen. one of the big positives is that the market is so cranky. we have a way of acting up when we don't like things so we definitely pass along the message. that happened with t.a.r.p. i h

what happens next in the uk? well, frost is live in london with more on this very question. >> reporter: kelly, this sums it up with the speech. the first one is that he says that he did not think that it was a right one for the uk and despite the losing side, and then it's perhaps the idea of the second referendum. he made it clear that when to invoke the article 50 and begin and that would only happen in place and then the part confirmed that it would be by the start of september. he also spoke about bringing the country together and stamping out the hate crimes. he did site it and said that the economy and the banks are not stronger than they were when they took office in 2010. just to come back to the part of the speech that you dipped back into in the presentation and that it's possible to have a early general election and the next one scheduled for 2020 and the next one i would say is george osborne and the campaign er and prime minister is very clear and remained campaign er and they came out despite on the

donald trump calling for the uk's move fantastic. hillary clinton says it shows a need for a calm, steady leader in the white house. "fox news sunday" host chris wallace shows us on brexit and this weekend, fox news reporting special on deadly medical mistakes. the man bill hemmer anchors, dangerous doctor. on sunday, 9:00 p.m. eastern and midnight here on fox news channel. continuing to. would the dow. 35 minutes remaining the trading day and the dow off more than 600 points on the session. almost three and a half percent. your car got rear-ended and you needed a tow. did your 22-page insurance policy say, "great news. you're covered?" no. it said, "blah blah blah blah..." the liberty mutual app with coverage compass makes it easy to know what you're covered for and what you're not. liberty mutual insurance. ♪ ♪ ♪ that's life. you diet. you exercise. and if you still need help lowering your blood sugar... ...this is jardiance. along with diet and exercise... jardiance works around the clock... to lower blood sugar in adults with type

remember it's up to the uk when to invoke article 50 and begin the negotiations for the uk's withdraw from the eu. if he maintains that position that means negotiations won't even begin until some time this fall. the second thing to watch is the reaction from the mps. what kind of reception will he get. around about 450 of the 650 members of parliament were backing remain. so a vote will have to be passed at some point to invoke the article and that's going to need mps to go against their initial wishes. we expect them to do that because they will back the voice of the people, but it is going to be interesting to see the reception david cameron gets when he begins speaking in about 90 minutes time. >> any word, i mean, wilfred, are we focused on the idea that article 50 will not be invoked until there is a new prime minister so we're talking perhaps as late as november 1st? >> exactly right. it is up to the uk when to invoke that, not to the eu. lots of european leaders coming out to try to push for an earlier set of negotiations, but david cameron has said he's not going to stand dow

trump highlighted the parallels between the uk and the u.s. saying come november the american people will have a chance to redeclare their independence. vote for trade, immigration and foreign policy that is put citizens first. they will have a chance to reject the global elite and embrace real change of a government of, by and for the people. vice president joe biden speaking in ireland pushed back at trump's assertions. >> some politicians find it convenient to scapegoat immigration instead of welcome them. to play to our fears. to play to our fears rather than, as abraham lincoln said, the angels, divide us, based on religion or ethnicity rather than unite us on humanity. >>> late today, hillary clinton released this ad taking trump to task. take a look. >> are you traveling with any of your foreign policy advisers? >> i have been in touch with them, but there's nothing to talk ability. >> the dow is lower by 500 points. >> if the pound is down, they are going to do more business. >> for more on what it means for a few joined by james and h

and the uk. y reflected in financial markets this morning. the pound fell dramatically. stocks are down. banking stocks are down. and the truth is financial markets and the betting markets in the uk got it wrong. they thought britain would vote to stay in the european union because the prospect of leaving, they felt, was unthinkable. they were wrong. the polls that showed this narrow were much closer and the leave camp has won. this is a very divided country that i've woken up to in london this morning and how those divisions, that bitterness gets resolved here in britain is a big challenge for the uk and reflects what might happen in the u.s. in november where you'll have people disappointed whichever way that vote goes. and someone has to bring them together. someone is going to have to try to heal some of the wounds. >> now begins the unwinding. take a couple of years probably. what are the real world implications for the uk but also for europe? >> the uk will suffer economically. it will be sm

the uk were popular homes for the capital.e prolific investors in central london real estate. the middle eastern investors have 9 of the top. there's a huge question mark overt property sector. we're getting some comments from regional middle east governments who have stakes in the european bond market. saudi arabia's central bank says it's reviewing its investment policy pertaining to euros and the british pound and making adjustments. that's interesting. turkey noted the country is worried about a political domino effect which could have major economic repercussions as we know. heads of state meeting taking place in the european union they are listening very carefully. will this be a domino effect that feeds into the economies going forward? it's a huge concern for turkey of course as an emerging market. we see egypt selling off quite sharply today on this sunday. >> thank you very much indeed. >>> you are watching cnn's special coverage. up next, calls are coming in france for that country to follow suit. could a frexit be

world leaders make an 11th hour push as the uk prepares to vote on its future in the eu.he debate, the polls, the odds, and the passionate arguments all coming up. >>> world markets on high alert. caution is the word ahead of tomorrow's vote, stocks, bonds, currencies and commodities. we've got it all covered for you straight ahead. >>> and that according to elon musk buying another one. solarcity, for nearly $3 billion. the wednesday, june 22nd, 2016. "worldwide exchange" from london begins right now. ♪ baby please don't go if i make up tomorrow ♪ >>> good morning, welcome to a very special presentation of "worldwide exchange" on cnbc, live from london, i'm sara eisen. >> i'm wilfred frost. welcome to london glp your turn. >> we are indeed, just across the river thames from the houses of parliament in less than 24 hours. an historic vote will begin to determine the uk's membership in the european union. we've been seeing swings in sentiment and in the polls. here is the latest "the financial times" poll of polls gives the leave camp 45%. 11% remain undecided. >> we've go

political developments are still unfolding here in the uk. don't know who will be the prime minister. never mind what the impact would be on the real economy. we are expecting some uncertainty and volatility. we find in talking to the clients over the last 48 hours or so. they're taking time to reflect on what this might mean for them. and whether they should proceed to invest in the uk or take space in the uk or whether to change their minds. it's very early days. a lot or our investors are saying let's just pause and reflect on what to do next. >> some of these stocks have been taken to the wood shed. i think the concern or narrative is especially if the big banks and financial services campaigns start looking at london no longer as a place for growth d and -- different work within the eu because it's not part of that open market, they're going to start leaving and at least not building offices. is that the concern? >> that's part of the concern, but i think it may be overstated. london is a big player in the global economy. there are 7, 8

this is on the official uk parliament white. and it only needs 100,000 signatures to be considered for debate in that parliament. and already a conservative member of parliament saying, he's answering the hundreds of e-mails and that they will, in fact, on tuesday, he says, consider a second referendum. but before people get their hopes up, know that david cameron, the current prime minister, has said from the beginning, that there will not be a second referendum. but millions of people now signing that petition. >> okay, it is really nerve-racking for a lot of people there, and even abroad, you know, people were googling, what is the eu? they want to know more about, you know, in the wake of brexit, what potentially could happen. what are the dominant questions or dominant regrets people are expressing? >> we've all had to get up to speed on our british terms and uk terms. but what was even more alarming, fred, is that people inside the uk. if you look at this list, i thought it was a okay when i first saw it online. turns out i