Delivered. Nicole we are waiting for a live statement from Boris Johnson outside his home in london. I am lauren simonetti. Nicole i am nicole pedallides. Global markets in major selloff mode. Lets check stock market futures, dow futures down 436 points well off of earlier lows overnight where we were down over 700 points. Lauren european markets open sharply lower, the ftse in london is down 5 , the dax in germany down 7 . A steep selloff in europe. It is noting the dax and the cac have been down 10 . Looking at asia, the nikkei in particular in japan down 8 . Shanghai composite in china 1. 3 losses and hong kong and hang saying for print. Korea, cosby 3 of the downside. Nicole the market reaction, oil prices sinking 4 down 2. 14 trading just under 48 a barrel. The worry is a slowdown in Global Growth and then the safe haven of gold rallying, gold prices up 4. 5 to 1318 an ounce. Lauren the british pound sticking to its lowest level since 1985. Also the selloff was the biggest ever on record. Nicole investors looking for safe places to park their money checking out the yields plunging 2. 4 basis points, 1. 5 . It is for. 02 in new york on june 24th and we welcome you to a special edition of fbn a. M. , the latest breaking news on what to expect. Joining us now the managing director of operations at devalue Execution Services and we are excited to have him with us, he will be joining us shortly to have some discussions, he has an trading action in the lowest points of the market. Nicole we want to get a look at reaction from around the world, frontpage headlines, looking at britains daily mirror, simply says we are out, daily record in scotland warning be afraid, be very afraid. Wall street journals frontpage, uk vote to ripple across the globe, see you later. New york times writing british done world with vote to leave eu. Those other front pages you will be seeing this morning. Nicole breaking news, britain voting to leave the European Union, shocking Global Markets and we are seeing them up off of the lows overnight, the british pound plummeting, David Cameron saying he will resign by october. Ashley webster covering it stepbystep throughout the evening live in london with the latest, 17. 4 million brits voted to leave the eu. What is the mood like and what happens next . Ashley good question. Shock and stun are two words that come ton mind, the last 24 hours we all got the sense the remain vote had done enough to win him of the polls suggested that but in the end, not over till it is over and sure enough the leave campaign were victorious. David cameron clearly was out in front of this campaign, said that it would be much better for the uk to stay in the eu, safer, stronger, makes more sense, stronger together was a mantra but it wasnt to be. People wanted to see the uk win back its own sovereignty, power to make its own laws. David cameron coming out of 10 downing st. Bitter morning for him, spoke to reporters outside and said there is no way he can continue to lead based on this vote and made an announcement about his future. No need for a precise timetable today but in my view we should aim to have a new Prime Minister in place by the start of the conservative Party Conference in october. Ashley i am all choked up about it apparently. I think i swallowed a fly. What happens next . Who will be the next leader of the conservative party . Many people looking at Boris Johnson. We will see, he was the main leader of the leave campaign and he could be someone the conservatives could rally behind which it will be a while before the uk decouples from the eu. It is a two year process and when it doesnt have a Prime Minister in place and probably wont until october, it will be two plus years before the full impact of leaving the eu will be felt. Nicole we are waiting for a statement from Boris Johnson. What do we expect him to say. He might be the next Prime Minister. Ashley the local media here knocking on his door, you would not see that in the us, hammering on his door live on tv, he is not answering, he will come out and congratulate David Cameron on winning a great campaign, they were longtime friends in the conservative party, he wont talk about his future, all he will talk about is how happy he is that the people of this country listened to him and the leave campaign and why he thinks it is the best thing to do for this country. As for his political future if he takes any questions that will be the first question i guarantee but i dont think he will address it at least at this point. Lauren that is a live shot of Boris Johnsons home. We can see all the people outside who will be waiting for that, thank you very much. Nicole lets go to the head of trading at ets capital in london, Stephen Guilfoyle, managing director of floor operations, joe, hello. Big night for you, good morning. What does this mean for economies in europe that are already facing big problems . There will be a period of uncertainty in the economy, economic recovery we have got is certainly not good so the worstcase scenario that is fairly likely is that you see other countries wanting out, this could spread, you could quickly see a breakdown of the european project and even a breakdown of the euro zone. There is potential for big fallout from this. Nicole that brings uncertainty to these markets which is why we started out plummeting 800 points in the dow futures. We have come off of those lows but there is still the uncertainty, you mentioned other countries, denmark, norway, italy, any of those could choose to exit the European Union. We bring in Stephen Guilfoyle on the floor of the Stock Exchange, you have been watching the plunge overnight and it is monumental bringing so much uncertainty and fear, there is the opportunity for traders to get in at those lows and a buying opportunity as well. Tell us what you have been seeing and thinking overnight. The uncertainty you mentioned is monumental because we have been talking about we would step in as buyers today. The stock 600 overnight, and 8 discount but the uncertainty of all the countries that might leave on their own and cameron resigned in october. Mister johnson stepped in and applied article 50 right away. This might get the ball rolling. Lauren article l they invoke that to move forward with a two year process where the United Kingdom will separate from the European Union. That will be invoked when we have new leadership and the new leaders will not do that right away but it is likely they will. That is another element of uncertainty. I want to explain article 50. I dont think the 8 discount, 14 times earnings what you had in europere as good as the 3 discount you will get off of the 17 times earnings you get on the s p 500 here. If you have your Shopping List you will look at those stocks you have always liked and you will buy them when they hit the price you have already set. If they dont reach that price you dont buy them. If you can talk about this monumental drop in sterling, hitting the lowest level in 31 years, were you expecting that . Once in a lifetime move, to put it in context, black wednesday, the Exchange Rate mechanism, sterling finished 4 weakening 10 . No one was expecting this and the market mispriced the potential and lost money on this. Lauren any orders executing . It was very busy but everything was pretty smooth. Most were fully staffed in london. I have been there 24 hours. A lot of people have been to london. This is an unprecedented time and everyone is trying to get a grip and what is happening with the uk economy. Lauren it is reassuring we have come off of the lows of the evening where we saw the cac quarante down 10 , german dac down 10 and thoughts they might stop london trading. We saw that in action as well. When you were seeing the overnight action it could be considered, you tell us, is this a kneejerk reaction and what happens next week . You saw a kneejerk reaction. I put it on the radio and i can make some money so these opportunities dont come around all the time. This is a once in 10, 15, 20 your opportunity and when you see it you have to grab it. Lauren Donald Trumps helicopter has just landed in scotland, he is there for the reopening of his golf course, he has been investing in this for two years, we have his arrival, we are waiting for him to speak, he is expected to speak from halfanhour to 60 minutes, we will bring you more as we get it. I want to show you what is happening. Nicole we are waiting for Boris Johnson, president obama is due to meet one cameron. We heard Prime Minister cameron a short time ago noted he would be resigning in 3 months. That was big news in addition to this breaking news that the uk and britain have chosen to leave, 52 . Markets and bookies waiting for the remain camp, this was a shock reaction for markets around the world and we are seeing drastic decline, people going to the safe haven, the yen and gold. We are waiting for mister trump to come out of the helicopter and there we have it. Waving to the crowd. And turn that nicole the timeframe is unbelievable. Make America Great again, make the United Kingdom great again and that is why you saw so many people turn out and choose to leave the European Union so there is our presumptive gop nominee and we will watch in the next hour. Nicole kathleen brooks, Research Director at see the index in london. The remain vote to win here, you are completely shocked this morning. They got it wrong and the leave camp lauren we are having some issues that will continue to work on for you, taking a look at donald trump arrived in scotland, his daughter and his son as he now arrives. A conference at 6 am eastern time. We havent live for you as we work through this crazy night and crazy morning, donald trump was in favor of Great Britain exiting the European Union. And control the borders. Immigration immigration is a reason to vote this way to leave the European Union, and those who said we would like David Cameron to come and see what was done with the nation and how they have been hurt by the issue and the other was trade and how there are so Many American jobs 11 jobs in Great Britain and london, the financial capital. And put a lot of that in jeopardy. This is not happening overnight. This is a two year process and it will be interesting to see what countries may follow suit. We are awaiting a statement from Boris Johnson. You are looking live at a scene outside his home. Any minute he is expected to come out. Prime minister David Cameron announced his resignation and we are waiting for that statement from Boris Johnson. Your portfolio at home getting hammered this morning, dow futures down 2. 5 . It was much worse moment ago. Nicole traders get in, obviously there will be a lot of things to watch, volatility, we have seen it overnight, dow futures were down 800 points. People walking to safe havens of gold, treasury bonds, what do you anticipate as traders get ready to hear the opening bell at 9 30 a. M. What no one is mentioning us today is the day of the russell rebalance, the heaviest day of the year. In britain and so on, and massive volatility. Nicole that is more the close than the open. Caller these traders, they need the systems to work perfectly. The nyse has put the staff on, nobody is on vacation and everyone will have their guys lauren Circuit Breakers is another point. Caller the dow dropped 316 points. I dont remember the last time we had those. Smaller numbers. Nicole the worst drop for the Dow Jones Industrial average in 2008. Nicole dramatic moves, dow futures down 438 points. Where do you predict. I think we will moderate as the day goes on but because of his massive imbalances with so many socks it is impossible the single stocks go, as a whole, we dont know until we see those. Lauren lets bring in kathleen brooks, Research Director at city brooks, thanks for coming back. Commissioning private exit polls, with that data we didnt expect this decision from Great Britain to leave. It wasnt hedge fund. And they had it completely wrong. Lauren what are your expectations for today . What are the expectations for today . What we have seen is markets are stabilizing at a very low level. It can come and go pretty quick. Lauren how low do you expect the pound to go . About 1 30. These negotiations and carry the economy. Another thing. Lauren you are saying we have so much breaking news, we have a lot of speakers who will come out today including Boris Johnson, that is what you are seeing now, donald trump, we will hear from Angela Merkel, any one of them will move these markets. Absolutely. If Angela Merkel comes out with something, this could be a completely different story. To make it easier that could really impact the eu will try to somehow woo the United Kingdom to make some sort of consolation, not a complete separate new thing. We need them. Absolutely. One of the biggest partners, casino power, the whole of europe. Lauren using losing the uk is like california and florida, two great states being blocked off of our economy. So Many American companies do business in the eu and specifically in the uk, the multinationals trade down in the Stock Exchange and elsewhere, what is their reaction . You see larger discounts. The boozemaker trading in lockstep with the pound. The movement has been exaggerating because the retailer policy. As a traitor, something im watching closely, what i think is an inefficiency. Lou cheers to that. Britains total contribution to the eu set at 24 billion, germany, the eus largest member would have to provide the most extra cash. Adam shapiro live in berlin with the latest and before you speak i want to let viewers know we have Angela Merkel press conference we are waiting for. Adam good morning. She is going to issue a statement, in new york time, going to address the outcome of the vote. In germany what was at stake with the vote was economic growth, largest economy in europe, the eu, what was predicted 8 growth in 2017 is 1 2 of growth in gdp. Politicians in germany have come out, a man named manfred weber, he is a conservative and an ally of Angela Merkel, there should be no special treatment, leave the eu within two years and issued a statement saying this is a british vote, not a european vote. Cooperation in the continent, we want better and smarter europe, convince people to bring europe back to them. And leaving the eu politicians, this is a quote, we want to be in charge of our own country, borders, immigration policy. The contagion members of the eu feared might take place if the uk voted to leave now appears to be appearing, politicians in holland saying they need to have a vote and in france, this is a victory for people who celebrate the president of france, Francois Hollande will come ahead of the eu summit tuesday. He will meet with Angela Merkel, the two largest economies in the eu, to go forward. Nicole thank you, especially the eu summit tuesday. Lauren the german 10 year bond, a record low further, in negative territory, something everyone has been watching on wall street and shows more of a safe haven and more money flowing into that. Lets bring in a market analyst in london. The bookies guest the wrong way. We saw all the safe havens being sold off. Your actions for today to compensate. That is why you are seeing a significant market, 10 00 last night. And betting on a remaining outcome, 90 probability, 90 probability the uk remains in europe and ultimately when early results started to come out that was completely turned on its head and the value of the pound and the ftse 100 and the german dax and going into safe havens as you quite rightly said has gone negative again, bond yields edging higher. A political contagion could result as a result of this vote. I dont think we can underestimate the effect this vote could have on the spanish elections this week and ultimately the president ial elections in france this year. The german elections next year as well. Lou spain, germany, france, the leader of the Independence Party talking about the eu dying, denmark, the netherlands, sweden, austria, seeing sentiment to leave. The trade block, the eu. That is right. I dont think it is about the eu. If you look ahead of the European Commission it is part of it. The searing austerity you see in greece, spain, youth unemployment, chickens coming home to roost. Earlier this week there can be no more renegotiation. This is as far as we go on renegotiating. If this is mishandled by politicians on either side in the uk in the European Union, consequences Going Forward for the future of the European Union. Nicole looking at trading action underway, off the flows of the morning, at home