Prime Minister David Cameron says he will resign by the fall and insists the British people's will must be respected after voters chose to leave the 28-nation European Union.
Cameron says there can be no doubt about the result of Thursday's historic vote, but that he is not the "captain'' that will steer the ship through difficult negotiations with the EU.
He says he will resign by the time of the Conservative party conference in the fall.
European and Asian stock markets crashed as Britain's unprecedented vote to leave the European Union rocked world financial markets and also sent oil prices crashing and the pound to its lowest level in three decades.
In morning trading the U.S. stock market was off almost 500 points.
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UK to Leave EU; Cameron to Resign; Stocks Crash
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