As others have said, markets normally overeact at first, then find some balance at a new level. There will be more downward shocks yet though, and the worst of these ought be in the UK as the old alliances unravel. The pending tax rises will put pressure on inflation as workers clamour for pay rises to compensate the higher rates. Spending cuts will hurt the most vulnerable, because Tory bastards are good at that. Although they are edging downwards at the moment, at some point interest rates will start climbing in order to shore up the £ and attract investment - the rate rises may also be needed to curb any inflationary trend caused by the QE (money printing) and workers forcing pay rises. It does look pretty bleak for the next few years. Remember, the UK economy is more vulnerable because of the higher level of mortgage payers (renting is less popular here than in many countries), so even a small shift upwards has people examining where they can cut their spending. Furthermore, many small businesses are part-funded by people borrowing on property equity. If property values start decreasing, as looks a fair bet, there will be less finance available for business start-ups and expansions. Then, the banks have taken a big hit recently. They will probably want to recoup that by imposing harsher lending criteria and in many cases, not lend at all.
The outlook appears bleaker than they're letting on. After a decade, the nation will generally be a bit poorer materially. Hopefully, some old values will re-surface rather than all the me me me legacy from the Thatcher years.