Sterling falls after hung parliament confirmed in shock General Election result

PM Theresa May loses seats

The pound has fallen by more than 2% and investors are more concerned about market uncertainty than ever as the UK government enters a hung parliament following yesterday's snap General Election.

Investors are expecting a volatile day for both sterling and UK shares after the election resulted in a hung parliament, a scenario the markets did not anticipate. The pound fell sharply after exit polls were announced and throughout the night, now standing 2.4% lower at $1.2651 as at 7.45am.  UK General Elections blog: How will markets react to hung parliament? Prime Minister Theresa May's Conservative party lost its majority, down by 12 seats to a total of 315 seats, while Jeremy Corbyn's Labour party surprised with a climb of 29 seats to 261. At the time of writing, there are...