European stock markets have tumbled by more than seven percent following Britain's decision to leave the European Union. Shares also fell on the New York Stock Exchange at the opening bell.

The STOXX Europe 600 Index crashed more than 24 points, or just over seven percent, to 321 on Friday. It marked the largest single-day loss since the collapse of Lehman Brothers in October 2008.

Britain's FTSE index also shed 199 points, or over three percent, to end Friday at six-thousand-138. Germany's DAX also lost nearly 700 points, or six-point-eight percent, to end trading at nine-thousand-557. The French CAC 40 also plummeted nearly 360 points, or eight percent, to mark the steepest fall among major European bourses.

On Wall Street, the Dow Jones Industrial Average fell over 611 points, or three-point-four percent, to end Friday's trading at 17-thousand-399.

On the New York Mercantile Exchange, West Texas Intermediate(WTI) crude oil for August delivery fell two-point-47 dollars, or four-point-93 percent, to 47-point-64 dollars per barrel from the day before.