Brexit Fallout: The new normal

The ramifications of Brexit have yet to be fully grasped, but most are agreed that they won’t be pretty

The price of Brexit A trader at the DAX index in Frankfurt contemplates the volatile stocks on his screen a few hours after Britains EU exit was confirmed Picture: Getty

Uncertainty, especially for a protracted period, is not the market’s friend. So, in the wake of Britain’s momentous decision to leave the EU, markets are preparing for a bumpy ride ahead as Britain and the EU figure out the new nature of their relationship.

When trading opened on Friday morning, sterling and the Ftsw went into freefall, while other European markets also took a hammering. Historical comparisons, such as sterling hitting a more ...