I wonder why Asian markets freaked out so badly?
Honestly, I was expecting to open my portfolio today to a bloodbath of carnage, but my diversified portfolio is only down 1% in total. ...That's just a run of the mill trading day, really.
Like I pointed out above, currency movements are more to blame here. Just like how the FTSE didn't move down that much because it's currency crash handled that for it. The reverse is true for the Nikkei. Japan is seeing a currency flight to safety; a strong Yen is going to be bad for Japanese exports and hence its stocks. Additionally, to compensate for the large rise in currency, the market must move down on balance.
It's really better to look at Brexit in terms of a currency crisis. This isn't even remotely about the various worldwide stock markets. Conditions for business haven't really changed. In fact, if the Pound doesn't rebound I'd even expect the FTSE to outpeform in the months ahead. Of course, expect a large amount of inflation as well. Which might not be that bad for the Brits, since nobody else in the world seems to be able to solve the low inflation knot. What you're seeing is a reordering of worldwide asset prices based on currency fluctuating.
For the US, I'd expect a repeat of what we saw earlier in the year. A strong currency, low commodity prices, and a struggling stock market.