The Brexit votes have been counted. The Brits have decided to leave the European Union. And the financial markets are taking it hard. Right now, futures on the London stock exchange are down 8%. The pound is down 9.8 percent, more than double its previous record decline of 4.1 percent. We’re living in interesting times.

No doubt, some of you are suddenly wondering, what exactly is Brexit? And what’s at stake? Up top, you can watch a four-minute primer created by The Wall Street Journal. Bloomberg has its own two-minute version here (or view below).