Initiate the formal process of leaving the block. Hes leaving that task for the next Prime Minister. Jeremy corbin, a Labor Party Leader was once seen as a possible candidate for that job, but his Opposition Party is falling apart at the seams. 19 members of corbins shattered cabinet have resigned, all questioning his leadership. This disastrous fallout in the world market continues to spiral downwards, as well. Ratings agent Standard Poors downgraded the uks Credit Rating by two notches monday. The eu leaders are converging on brussels in just a few hours. Our International Diplomatic editor Nic Robertson is following the action there. You kind of wonder what the point is of David Cameron having a meeting when hes now effectively a lame duck. I think theres an element of that about it, max. But i think maybe if we look at this strategically, and, of course, politics, so much has happened in terms of politics in the last week, but theres so much more of a playout in the coming months ahead. And is one of the things David Cameron will be doing when he gets here this had afternoon, is back to all eu leaders why he thinks the vote went the way it did in britain and part of that is going to em bold concerns about immigration, part of it is going to involve, you know, concerns about, you know, globalization. Part of it is going to talk about, you know, a gap, if you will, between politicians and the is people. And these will all be sort of, if you like, warning messages of a sort. Weve heard this echoed around europe already that lessons need to be learned from whats happened in britain. So in a way, the stage for what will come next when the next british Prime Minister triggers article 50 to begin britains leaving of the European Union, so how he sets the stage of the mood in britain is what that could mean for other european politicians could ultimately serve the down the road play into that. But, of course, we do know what the european leaders are saying is you do not get to begin to negotiate any of the terms of the withdraw byliterally, that sort of thing, until you actually trigger article 50. So you cant say, for example, of a way to cut slightly better deals on immigration and control our boarders in a different way. None of that is an option. Its all or nothing. You get to do it when article 50 is triggered. Its absolutely no rush to start article 50. I was speaking to some of the lead campaigners saying theyre never going to invoke article 50. Theyre going to start dealing with their own laws here at parliament. If thats the case its a huge amount of tension. One Senior European Union official with a demand of experience. Back in the olden days, if you will, leading to a declaration of war. Perhaps it isnt going to go through this had in good faith and it has this mandate through its people, but it may not decide to negotiate probably theres a history here and certainly there will be people sitting around the table with tam David Cameron today who will think back to recent negotiations with britain. And britain hasnt sort of come to the table and acted in best faith. Britain was never really this fully paid up member of the European Union, not a member of the euro, keeping an account of sterling and is also, as well, not part of this free border movement. So there are all those misgivings. So one of the things the european leaders will look for from David Cameron is to get those kind of a isnt going to let them slide and some, you know, in some way that is this incompatible with how a country is allowed to exit the European Union. And one of the underlying reasons for that, of course, and everything that were hearing from european leaders is their concern that what britain does now potentially could bring about a contagion where you would get other exit votes, calls for referendum and other european countries. They dont want the fabric of the European Union that has been so hard to stitch together over the years, they dont want it unraveling what David Cameron is going to say in the future you may need to weave that clothe slidely differently. Listen to what my people have said and youll hear similar things from the people in had your countries, auty scountries. Max. In brussels, thank you very much, nic, indeed. That has to be one of the most awkward summits weve had in recent years. Asian markets are nearing the end of their trading day. As you see in hong kong and yesterday, the pound fell severely here. The market here were in a terrible state or the tension behind the scenes was because the Credit Rating in the uk has tallen. But what real impact is that having in the wider markets . Well, its still rippling out, max, tefks. But here in asia, those effects are quite muted. We saw it yesterday, as well. Not big swings that we saw in the european markets, the uk markets and the u. S. Markets. Take a look at the numbers here. Youll see, you know, its basically fairley directional for the moment. Hong kong is down just a little bit more. And youll see the nikkei is still up. Thats because the currency, the japanese yen is holding level, its not strengthening any further. So, really, this story is very much, max, a developed economy versus emerging markets, if you like. 3 trillion has been wiped off the value of stocks worldwide since brexit up until the beginning of trade in asia this morning. Of that 3 trillion, 2. 7 trillion have come from the developed markets. The emerging markets have lost about 179 billion. So relatively speaking, the emerging markets at this stage, at least, have born less of the impact than the developed economies. And let me ask you, just about the relationship that china has with the uk. Because i remember when xi jinping came over and there was a huge about his state visit and this is meant to be the dawn of a new era between china he na and the uk. He clearly stated that britain was attractive because it was a gateway to the European Union. So the chinese have now lost that link. Does that mean that this new relationship just isnt going to happen . Well, it looks that way, youd have to say. I mean, the people would be speaking to and the reports that have been coming out of china is that the Chinese Companies are taking a very, very long hard look now at what the value of continuing to invest in britain is at the moment given that they are going to lose that access to a market which is about 450 million cob assumers. That is a massive market to be shut out of. And youre right, David Cameron clearly talked about a golden era. Xi jinping got literally the Royal Treatment when he was in uk last year. That a clear strategically that china had is very important to the british economy. Youll remember britain is one of the first signatories to asia why is a Investment Bank against washingtons wishes. Brittant wanted to get very close to china. China likes that idea because it gave them a political ally. The top table in europe and the gave them a springboard into euro europe. And if you look towards direct investment, for example, the last 15 or so years, Foreign Direct Investment to china has been double that of any other european country. That now is all on hold, obviously, while the brexit unravels while we still wait to see what the new britain is going to look like and what its relationship is going to be with europe. And china, quite understandably, is saying lets wait and see, too. Were not going to be rushing it any further and theyre going to be looking for if britain does leave and does cut its ties, theyre going to be looking for new in roads into europe proper. And bypass britain. Thats the fear of the brits and thats a reality for china. Okay. And b rue, thank you. Nicholas now is in san francisco. A professor Tu University s stern school of business. That says so much about the uk economy because future investments are being canceled as we speak. You cant value that, of course. But thats going to be probably one of the biggest losses here economically speaking. Well, theyre going to be immediate large losses, especially during this process with britain has not yet invoked article 50. But even if it does that for the next two years, when the negotiations is happening, there is going to be significant uncertainty and many people would say lets wait and see how this works out before we invest in britain. So thats one type of loss. But then there are other types of loss, as withel. There will be tariffs and customs and both exporters from britain are going to have difficulties and theyre going to maybe have some of their markets foreclosed and imports in britain are going to become more expensive. So the local consumers are going to suffer. So these are significant issues that were anticipated before the vote, but somehow the voters did not take fully into account. One of the issues, argue abl throughout the Referendum Campaign was immigration and the people of britain everyone b is very aware that britain needs to be part of that Common Market in europe. But its looking increasingly unlikely that you can compromise the two because the europeans arent going to give britain that free market without the Free Movement of peel. We learned that from norway. Thats the deal they ended up with. But there are people here arguing that britain could negotiate a better deal than norway. Do you think thats realistic . Max, youre right. This is going to be a sticky point. I think its very unrealistic to think that britain can get all the benefits of the market without adhering to the immigration policy of the Common Market. Remember, these are legal immigrants. These are people from parts of the European Union, for example, from poland who come and work in the United States im sorry, in the united kingdom. They pay taxes. They are not people who jumped off the boat like the people who the refugees or the immigrants who come to greece and through greece to other countries. This is not the case at all. So its a its a cornerstone of the European Union that there is Free Movement of labor, that there is the Free Movement of individuals. I dont see any way that britain can get around it. If they try to do it without invoking article 50, i think thats going to be a real problem, a real fight. I dont really know how this is going to work out. Its hard to see a solution. The to satisfy those pore brexit for immigration reasons. Nicholas, thank you very much, indeed. Amara, that is the context of london. And i think he put it very well, we dont know how its going to work out, but were trying to work it out for you. No one knows just yet. Were going to to take a short break. From here, when cnn newsroom returns, stepped down lately . Well tell you about with another resignation, but this one has nothing to do with that. But Hillary Clinton campaigns with the potential running mate with some harsh words for donald trump. What kind of a man roots for people to lose their jobs, to lose their homes, to lose tir life savings . Ill tell you what kind of a man. A small, insecure, money grubber who fights for no one but himself. Sfoo with my moderate to severe ulcerative colitis, the possibility of a flare was almost always on my mind. Thinking about what to avoid, where to go. And how to deal with my uc. To me, that was normal. Until i talked to my doctor. She told me that humira helps people like me get uc under control and keep it under control when certain medications havent worked well enough. Humira can lower your ability to fight infections, including tuberculosis. Serious, sometimes fatal infections and cancers, including lymphoma, have happened; as have blood, liver, and nervous system problems, serious allergic reactions, and new or worsening heart failure. Before treatment, get tested for tb. Tell your doctor if youve been to areas where certain fungal infections are common, and if youve had tb, hepatitis b, are prone to infections, or have flulike symptoms or sores. Dont start humira if you have an infection. Raise your expectations. Ask your gastroenterologist about humira. With humira, control is possible. Just wanna see if my scoreredit changed. Why would our scores have changed . We havent changed that much. No, we havent. Maybe our scores have changed. Uh, ya. Try credit karma. Its free. Eyy. Thats pretty different. Totally. Check out credit karma today. Credit karma. Give yourself some credit. Welcome back, everyone. You are watching cnn newsroom. Im amara walker in los angeles. Im max foster outside london. The disarray outside londons leadership now spreading to its football team. Englands football manager, roy hodgeson stepped down on monday after his squad was upset by iceland at euro 2016 playing in its first Major International tournament. Iceland came from behind to defeat england, 21. Its being called one of the most stunning upsets in the tournaments history. Iceland takes on host nation france next. There are 16 Million People in this country. There are 350,000 in iceland. What an incredible story. U. S. Senator Elizabeth Warrenen has made her Campaign Debut with tpresumptive democratic nominee Hillary Clinton. Warren was fueling speculation that she could be on clintons short list of potential Vice President s. Jeff has the very latest. This is my fight song Hillary Clinton and Elizabeth Warren on the same stage and the same side. Warren withheld her endorsement for more than a year. So they lingered today for nearly two minutes. Soaking up the adoration of democrats in cincinnati. Im here today because im with her. And then she got down to business. She knows what it takes to beat a thinskinned bully who is driven by greed and hate. For weeks, warren has been needling trump, which clinton has enjoyed from afar. She beamed today at close range. I must say, i do just love to see how she gets under donald trump thin skin. And trump just may have been watching, sending this tweet. War b came armed with a response. Donald trump says hell make America Great again. Its right there. No, its stamped on the front of his goofy hat. You want to see goofy . Look at him in that hat. The Warren Clinton show, part pep rally, part audition made clear the hatchet is buried between the two democrats, at least publicly. You just saw you just saw why she is considered to terrific, to for mid hadble because she tells it like it is. On stage today, warren said clinton wont back down. She gets up and keeps right on fighting for the people who need her most. But she suggested in interviews and her 2004 book that clinton caved on a bankruptcy bill in the senate, writing, it seems that Hillary Clinton couldnt afford such a principled position. She has taken money from the groups and more to the oint, she worries about them as a constituency. Those concerns went unspoken today with one hug after another. But if clinton would tap warren as her running mate, they would continue. For now, they share a common objective, stopping donald trump. Donald trump proves every day hes not in it for the american people, hes in it for himself. Elizabeth reminds us of that every chance she gets . And clinton sounded a pop ewe lit tone. I got into this race because i wanted to even the odds for people who have the odds stacked against them. And this is not a time for half measures. Weve got to go about big and weve got to go bold. The scorn for donald trump was sharp and sustained. Its one thing that joins Hillary Clinton and Elizabeth Warren, but its important to note Elizabeth Warren, is not the only democrat being trd. Tim kane, sfeert from virginia, also in the hunt as are other democrats. But were about one month away from when Hillary Clinton decides who her running mate will be. Jeff zeleny, cnn, cincinnati. Dave jacobson joining us and republican consultant john thomas. Both in polka dot ties and they say it was just a coincidence. I swear. So lets start with you, dave. What impact do you think senator warrens campaigning for clinton is going to have on Clintons Campaign . Is it going to broaden her support . I think so. Look, had Elizabeth Warren not been so much of an overt attack dog over the last two months of the campaign, i dont know that she would be standsing on stage with Hillary Clinton at this point being perceived as the top contenders. I think this was sort of an audition for her to sort of give folks a claims of how the two with would sort of perform togeth together, going up against donald trump. And i think, you know, the perception, the optics at least among folks is the two women look very strong together. But the question is whether or not Hillary Clinton, these are the vp pick like Elizabeth Warren or is she going to go with a tim kane, the senator from virginia . O