Calling the result fantastic and drawing parallels to his own campaign message. Listen here. I think it will be a good thing. Youre taking your country back. Youre going to let people that you want into your country and people that you dont want or people that you dont think are going to be appropriate for your country or good for your country, youre not going to have to take. There are a lot of angles to this historic vote and the fallout today. Lets get to it all. First, lets get to cnns Business Correspondent alison kosik live at the New York Stock Exchange for us. Alison, what are you seeing . What are you hearing . Reporter we are watching the losses accelerate just a little bit from lets say a half our before, but certainly not as bad as it could have been. Before the market opened we had an indication that the dow could have dropped as much as 700 points. That did not materialize. So i have lots of questions. Way tonight bring in alan valdez. A lot of people want to know is this a oneday event, an overreaction to what happened . Yeah, wall street always overreacts. On the upside and the downside and this is probably a oneday event, this kind of movement. Well see volatility the rest of the summer, but basically its a oneday event, yes. Is this the kind of thing though that wall street is really going to be watching because the transition for the uk is not going to happen overnight. Its going to take years. Is this really going to dictate the trade and trend here on wall street . Not at all. Today was like a sale day at macys. The traders were salivating it sow it down 500 points. They were buying. A lot of guys like us were shorting yesterday coming into the market so we did a lot of covering right on the open. We just covered on the opening and walked away. Actually were flat right now. Youre seeing i think a lot of traders do the same thing because even though were coming in a little, but on lighter volume than this morning. Its a oneday event and like you mentioned, it will take years to unwind. Alan valdez, thanks so much. Not a lot of worry on wall street despite all the red on the screen at this moment. Well be keeping an eye on that and keeping close with you, alison. From the New York Stock Exchange lets go to the uk where Nic Robertson is in london. Nic, a whole lot happened overnight for folks here in the United States. Explain and lay it out for us. Reporter yeah. It certainly did, kate. The evening began with the final votes being cast, and based on the sort of outlook and predictions by the Financial Markets they seemed pretty confident themselves that the vote would be a remain vote, and that was the mood the country went into the vote counting, but within a couple of hours with the first results coming in, the leave campaign were getting bigger numbers in the northeast of the country. Scotland came out pretty solidly to remain part of the european union, but much of the rest of the country outside of the capital london, a few of the big commercial cities, was voting to leave, and thats the way the numbers settled by early morning. About 52 leave, 48 remain. David cameron wasted no time coming out saying that he was going to resign. He didnt set a time frame. What hes trying to do is to create a period of stability, a period of calm transition, support from some of his mps has been coming forward, mps who were saying they did vote for brit ton leave the european union. So right now the political impair tifer is to promote an aura of stability. But the market leaders i talked to talk about volatility today and for weeks ahead here in britain. The question and the value of the sterling is going to be something thats probably going to emerge within a few weeks. They say much lower, significantly lower than it was going into this referendum. So the Financial Markets the sense in the uk is they might be feeling this is a oneday event, but the feeling in the uk is they kind of got it wrong going into this as well. Theres concern. Uncertainty in Financial Markets not good but also the Political Uncertainty of what actually happens next in the short term and long term on the political front very important in the uk. Well get back to nic as things develop. Nic, thank you so much. Hes in london for us. Meantime, donald trump, he is embracing the uk vote as a sign, he hopes, of things to come in the election here at home. The Presumptive Republican nominee was in scotland to open a new golf course. In the midst of promoting the resort, he also took questions on this historic vote. Hed already come out in support of the uk leaving the eu. Scotland we should note, where he was, voted 2 to 1 to remain in the eu. Sara murray is in scotland traveling with the Trump Campaign. Sara, donald trump covered quite a lot in that press conference this morning. Reporter thats right. Did he cover quite a lot. In between promoting his gulf course at turnberry, he did take some time to applaud the brexit saying he felt the uk made the right move and if there are economic repercussions, that those will sort of all even out in more time, and he did say that he feels like theres a similar angst, anxiety playing out here in the uk about the Economic Situation as well as about immigration as were seeing from voters in the United States. Take a listen to what he had to say. I really do see a parallel between whats happening in the United States and whats happening here. People want to see borders. They dont necessarily want people pouring into their country, that they dont know who they are and where they come from. They have no idea. And i think, you know, not only did it win, but it won by a much bigger margin than it thought it would happen. Its the will of the people. Its not a question of approaching it. Its the will of the people. Its always the will of the people. Ultimately that wins out. Reporter so you heard in some ways donald trump feels like this is a positive sign for his own president ial campaign, feeling like there is sort of a similar strand of concern playing out here as well as in the United States. This was an interesting backdrop because, of course, scotland voted to remain, not to leave. He essentially said scotland will have to work out for themselves what they want to do, if they want to have their own referendum to stay with the uk or rather to remain part of the european union, but certainly a much different press conference than maybe donald trump was expecting to hold here at turnberry, kate. Absolutely. Sara murray, thank you so much. Well check back in with you. Appreciate it. A lot to discuss clearly on the Global Impact and the impact on the 2016 race. Joining me now to discuss is rana foroohar, the author of makers of takers. Phil mattingly who covered Financial News for years. Michael ka pewcaputo and steve elmendorf. Doug heye is joining us as well, former Communications Director for the rnc and for the sake of this conversation we should note he also has done some work with Boris Johnsons office when he was mayor of london. Those introductions can sometimes exhaust me. Lets get to the real point of this conversation now. Rana, to you. Draw from this book i am now walking through, makers and takers. What does this mean . I think the vote underscores there is a complete trust gap between the elites in many countries, the uk, the u. S. , many other countries, and the mass populations. If you look at the way in which the markets missed this, the markets were pricing in a 25 chance this was going to happen. Sterling was rising yesterday. So elites in washington and wall street and many capitals around the world did not expect this to be the vote. But there is a huge gap between where the markets are and where main street is both in the uk and in the u. S. I see a lot of crossover there with a group of people that feels that the rules of globalization are not working for them. That they want things to be done differently and they dont trust establishment political figures to do that. Phil, what do you think . Kind of to ranas point, how much of the Market Reaction, and were watching it be kind of volatile today here, how much Market Reaction do you think is the shock of the result or the actual vote, how the vote turned out, that they voted to leave the eu . I think nic mentioned in his report, rana as well this, wasnt priced in. While the polls over the last couple weeks were very, very close, everybody you talked to or been out to lunch with, lobbyists and bankers just assumed remain was always going to play. But now that they have decided to exit, the very difficult Technical Details of this also play. How does the uk work with their 575 billion in trade with the rest of the eu . Can uk banks, which is essentially the Financial Services center of europe, can they actually even do business with the esu . How do Companies Deal with the 13 trillion Single Market in the eu. Kate, you hit on it, uncertainty is the biggest problem in Financial Markets. No kercertainty is coming anyti soon. Two years of negotiations over this. If youre a company domiciled in the uk or in the eu or in the United States and have international business, you have no answers anytime soon. Fascinating. Also when you look at the political front, doug, can you imagine a day when the british Prime Minister resigning is not the biggest headline . I think thats one thing that strikes a lot of us. It also gets to if you look at how this all began, is this a problem of David Camerons own making . Well, no, i dont think its a problem of David Camerons own making. Anecdotally two years ago this month when eric cantor lost, obviously i worked for eric cantor then, i explained it to friends in london and overseas as if we had lost to from the uk independence party. The fractures and fissures weve talked about for the past two years, four years that the Republican Party has dealt with with whether you want to call them the tea party or the House Freedom caucus, the conservatives in the uk have delt wi dealt with the exact same issues. Our politics often mirror each other. Its also why were talking about donald trump and his weighing in and what it means for 2016. You know, phil hit on trade, steve and you have a lot of experience in trade. You were deeply involved in Major Economic policy debates. President obama hit on trade a lot when he came out in april i think it was when he was standing side by side with David Cameron saying that he wanted the uk to remain. I want to play a little sound bite just for our viewers of what president obama said then. Our focus is in negotiating with a big bloc, the european union, to get a trade agreement done. And the uk is going to be in the back of the queue. Is that really how this is going to work . Theyre moving to the back of the line . Its obviously going to have a big impact on their relationship with the u. S. As a trading partner. You know, i think people should calm down though. I think as you said, as your other guests have said, i a lot of the reaction is surprise. Theres a lot of uncertainty because it wasnt priced into the market. But over the next 24 hours, 48 hours, several days and weeks, you know, i think things will adjust. I think theres a danger in overreading too much into what this means for the u. S. Elections. If this was a referendum in Great Britain between two different points of view, were going to have an election in the United States between two individuals who are going to were going to learn a lot about in the next five months and i dont think it necessarily translates that this means one thing or another for the u. S. Elections. It seems one of the only people maybe not surprised is donald trump, michael. Its interesting to me that people keep saying he was lucky. He wasnt lucky at all. I heard him talking about this for days, and when people were telling him when do you want to schedule your trip to scotland . Its like this is it. And he was the one that predicted it. Now, hes not some kind of soothsayer, hes just somebody who has tapped in the vein of the populist movement. While theres going to be two different people on the ballot in november here, its also two different ideas. Its americanism versus globalism. Its very similar to the question that was on the ballot yesterday in britain, and i think you might see a very similar result. Is this coincidence . Did donald trump want to find himself snack dab in the middle of this . When the vote and the result has been known for a very long time . I have known donald trump a little while. Theres no coincidence in anything he does ever, ever. And ill tell you, he was there for his kids. This trip was always about showing support for his kids and their business. Theyre now running his business. So when he said to the reporters, do you want to come along . They ganged right into the airplane and they went on it. Now, this is something that its not just an accident. Its not just an accident, but its really about how it translates in america for the next couple months and if donald trump hits on the same you know, the same kind of differences that they hit on in britain, you know, are you for america or are you for the globalism. Lets face it, globalism is on the wane. Theres no question about that. Today shows you that more than ever before and i think its on the wane here in america too. If you listen to his message in his press conference this morning, it was about this was going to be good for his golf courses and selling time shares. It seemed to me the classic example of trump with the wrong message in a particular moment. He sort of hit all the wrong notes, and so i dont think this is going to help him i. I wouldnt to hit on that in a second. But globalism on the wane. One of the big uncertainties is the domino effect. Global trade flows have been down. Theres a lot of concern about global mobility. You cant deny people are taking a second look at the status quo globalization. That said, theres a lot of other trends here. I mean, people are doing that in part because the recovery is stagnant. Were still in the longest, weakest recovery of the postwar era. I think if the economy was moving at a better clip, you wouldnt have some of this concern. Theres also some bright spots. Digital trade flows are up. People are communicating across border more than ever before. But i think what this is really about is globalization as a proxy for economic insecurity both in the u. S. And in the uk. There are a lot of people that feel that the recovery hasnt 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 hes 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, theres been no question hes 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 dont think theres 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 interesting. He said this doesnt make the uk any lease european. One of his quotes, we cannot turn our backs on europe, we are part of europe. I think hes trying to take a mature step forward. He also knows he has to be as people were projecting maybe their hopes or their predictions on him, that he has to be very careful in what he says. Certainly he puts himself in the right place at the right time. I also think hes somebody who is a real truth teller. When he made this move to support the brexit, it was a really big deal in the uk, but weve also seen him be critical of mitt romney four years ago. He was critical of donald trump last year. Hes somebody who tells the truth and thats one of the reasons that i think so many people in london and the United Kingdom react so positively to him. Were going to take a pause real quick but i want to talk about the politics of what this could mean for the election at home. We are watching u. S. Markets, watching your 401 k . The u. S. Reaction to the historic brexit vote. Around the world stock markets are facing record losses. Down 441 appointments in the u. S. Right now. Ahead, well also talk to Donald Trumps senior trays advi trade adviser. Well be back. De adviser. Well be back. Put some distance between you and temptation with. Meta appetite control. Clinically proven to help reduce hunger between meals. New, from metamucil, the 1 doctor recommended brand. Be the you who doesnt cover your moderate to severe plaque psoriasis. Be the you who shows up in that dress. Who hugs a friend. 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