George Osborne's efforts to calm the markets prove fruitless

Chancellor George Osborne's efforts to calm the markets over Brexit proved fruitless as more than £40bn was wiped off the value of Britain's biggest companies.

The FTSE 100 Index plunged back below the 6,000 mark, slipping 2.6% to 5,982.2, despite Mr Osborne offering his assurances that the UK is "about as strong as it could be to confront the challenge our country now faces".