The Conservatives remain Parliament’s biggest party but have lost their overall majority after an extraordinary surge by Labour.
The pound fell sharply after Britain’s second Democratic shock in less than a year.
When Theresa May called Thursday’s snap general election in April, the prediction was a Conservative landslide and annihilation for Labour.
However, that has been turned on its head, with the Conservatives losing their majority in the House of Commons after an opposition surge created one of the most dramatic reversals of political fortune in Britain’s electoral history.
With almost all seats declared, no party will reach the threshold of 326 required for an overall majority.
May has been humiliated, ending the election with fewer seats than when she called it.
At present, it appears that the Conservatives will have 317 seats, the Labour with 265 and the Scottish National Party with 35.
In terms of vote share, the Conservatives won around 44 percent of the vote and Labour 41 percent.
Labour Up As Theresa May, Tories See A Gambit Backfire
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