The United Kingdom voted Thursday to leave the European Union.
The vote was 51.9 percent in favor of leaving to 48.1 percent in favor of staying in the EU, according to the United Kingdom Electoral Commission. The “leave” side needed 16.8 million votes to win.
According to ABC News, the financial markets, particularly the British stock market, fell nearly eight percent after the announcement, while the German index dropped 10 percent.
"Some market and economic volatility can be expected as this process unfolds. But we are well prepared for this," said Mark Carney, the Bank of England’s governor, adding that the bank is prepared to pump more than [about $347 billion] into the financial system.
Voter turnout was high in the United Kingdom for the vote, standing at about 72 percent of the registered population.
Nigel Farage, leader of the U.K. Independence Party, tweeted: "We've got our country back. Thanks to all of you. #IndependenceDay."
He later said in a video, “We've done it. We've overturned the establishment, the big banks, the big businesses."
The countries of England and Wales supported leaving the Union, but Scotland and Northern Ireland voted to stay.
There is an online petition on the U.K. Parliament’s petition website asking lawmakers to reconsider the outcome. It has more than 72,000 signatures.
Also in the aftermath of the vote, Prime Minister David Cameron said he is no longer the man to lead Britain now that they have left the EU. Cameron has said he will resign, and it is speculated that Boris Johnson, former London mayor and a leader of the “leave” movement, will replace him.
Publication date: June 24, 2016