Plus the UK is in an extremely weak position to negotiate trade with almost everyone and have a very short amount of time in which to do so.

It is a slow start, but jobs have already started shifting from the UK to other EU member countries (particularly for companies based elsewhere in the EU). We'll also likely see reductions in exports as UK goods cost more for other countries to import than competitors elsewhere, and UK imports from the EU go up in price (due to tariffs) and elsewhere (due to weaker trade agreements).

We also may see "brain drain" as students and highly qualified pros go to countries like Germany, France, Sweden, and Ireland where they can gain/maintain full EU travel/rights/benefits. Gaining citizenship in England & Wales is simply going to be seen as less useful than in e.g. Germany.

Overall we're just on the leading edge of how bad Brexit is going to be, the loss of the GBP's value is the market trying to "build in" projected future weakness. It could take England & Wales thirty years to fully recover from Brexit.

The pound losing its value makes our exports cheaper, and inward investment more attractive. Lavish welfare state spending makes many people in the UK dependent on benefits - there are plenty of jobs out there for those that look, and we should be housing single men that have paid in for 40 years ahead of families of migrants. The increase in racist attacks and xenophobia is mostly unproven, as any crime can be reported as a hate crime, and there is no requirement to prove the hate element; not to mention the efforts of the vested interests/left wing press including the BBC, who are obviously desperate to undermine the Brexit vote by any means possible.