The initial returns on the U.K.’s nation-wide referendum on withdrawing from the European Union do not look good for those Brits and Scots who want to stay in Europe.
At just before the 2 a.m. mark, London time, the “Leave” side had over 53 percent of the vote and the “Stay” side had almost 47 percent — 798,761 to 693,118 votes according to the Wall Street Journal.
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Both financial and gambling markets have reacted to this. The value of the British pound has dropped and the odds of a British exit, or “Brexit,” have increased.
The “Leave” side had been doing well until the last week when public opinion began to vacillate toward “Stay,” or “Remain,” particularly after a madman killed a pro-“Remain” Member of Parliament.
However, in the initial returns from the ballot box, “Stay” is underperforming its cheery poll numbers.
