Though he would have preferred that the UK stayed in the European Union, US President Barack Obama said he respects the decision of the British people and reassures them that their special relationship with the US will remain.

DAVID Cameron announced he will step down as Prime Minister, share markets around the world went into free-fall and the possibility of other countries moving towards greater independence increased after the results of a referendum showed Brits wanted to leave the European Union.

The UK and the EU entered uncharted waters Friday after the country voted to leave the bloc. Shortly after the result, Prime Minister David Cameron announced his intention to resign in three months. Follow all the events on our live blog below.

Opinion polls taken before the vote indicated the outcome is far too close to forecast.

In or out? Remain or leave? Economy or immigration? Freedom or security — the debate has been the talk of the UK for months.

“It is a leap into the unknown,” one British economist said.