BREAKING NEWS: Emotional David Cameron stands down as PM hours after voters trigger political earthquake by backing Brexit and says: 'The will of the British people must be respected'

David Cameron resigned today after his devastating defeat in the EU referendum. The Prime Minister will stay in post into around October before a new Prime Minister is chosen to 'captain the ship' as the UK prepares for Brexit in a new dawn in its politics, he said. Mr Cameron's voice broke as he spoke outside Downing Street this morning with his wife Samantha in tears next to him. The Brexit campaign officially passed the winning post in the EU referendum at around 6am today, triggering a political earthquake and panic in the markets. Nigel Farage earlier declared it to be 'independence day' and a 'victory for real people' as the Leave campaign racked up votes across England and Wales - defying the verdict of London, Scotland and most of the big cities. The Pound - which soared in value earlier after Nigel Farage admitted he thought Brexit had lost - has nose-dived against US dollar to its lowest level for 31 years. And more than £100billion was wiped off the FTSE 100 within minutes as markets opened on Friday as Britain's decision caused turmoil across global exchanges