Like the average England football fan this morning, the financial markets are in a gloomy and dejected mood.
The shock of seeing the UK vote to leave the European Union last week continues to reverberate around the global economy, with economists fearing that global growth will take a hit.
Last night, Standard & Poor’s and Fitch both downgraded Britain’s credit rating to AA, two notches about the top AAA rating, warning that growth will be significantly weaker than previously expected.
That only adds to worries about the UK economy, which have sent shares in banks and building companies reeling since Friday morning.
After two days of heavy falls, European stock markets are expected to claw back some losses this morning. The FTSE 100 is predicted to rise by around 1%.
But investors should be cautious in the current climate; there is just too much uncertainty around
The Bank of England is doing its bit to stem the crisis. Later today it will offer UK banks the chance to stock up on liquidity to help them through the Brexit crisis, in a special liquidity auction. That will show how worried the City is about financial conditions.
It’ll be a busy day in politics too, with David Cameron slinking off to Brussels to face fellow leaders for the first time since his referendum gamble backfired – taking his career with it. He’ll leave behind a cabinet full of scheming ministers, wondering who might become the next prime minister.
But the opposition Labour party is doing its best to match the Tories in the shambles stakes, with scores of MPs trying to dislodge their leader. Jeremy Corbyn is gripping his seat tightly, though, and promising to go nowhere.
Our Politics Liveblog will have all the action in Westminster and Brussels: