Still, the pound crashed 10 per cent to a 31-year low at one point, before rebounding slightly for a 9.1 per cent loss against the greenback in late trade.
The euro also plummeted, dropping 2.6 per cent on the dollar.
Benefitting from a massive safety selloff, gold jumped nearly five per cent and the yen surged 4.2 per cent against the dollar and 7.0 per cent on the euro. The dollar at one point fell below 100 yen for the first time since November 2013.
US 10-year treasury bond yields hit their lowest since 2012 at 1.42 per cent before edging higher, while the German 10-year bund fell into negative territory for the second time in history.
In all $2.1 trillion in value was wiped off of equities worldwide, according to S&P Dow Jones Indices.
London’s benchmark FTSE 100 index plummeted 7.5 per cent at the open, but recovered partially after British Prime Minister David Cameron said he would step down and central banks pledged support.
Among top European banks, Lloyds lost 21 per cent and Societe Generale plunged 20 per cent, while losses at others ran 14-18 per cent.
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