Britain's vote to leave the European Union will lead to a period of uncertainty, and risk assets across the world are likely to witness selling pressure, which could intensify going forward.
While market participants had been discussing it, the risk actually wasn't priced in adequately. Brexit is not a one-off event, but may have far-reaching implications. Anti-EU voices in other parts of Europe will gain strength. Anti-globalisation voices (like Donald Trump) will gain strength.
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