Updated
Theresa May gambled and lost badly.
She called the election three years early expecting to boost her parliamentary majority.
Some of her colleagues initially expected she would deliver an extra 100 seats or more — instead they endured a disappointing campaign and ended up with a hung Parliament.
By any measure, it is a devastating blow and a disastrous moment for the Conservative Party.
Who will form Government?
On the current numbers the Conservative Party is likely to form Government — they are still easily the largest group in Westminster.
Unionist groups in Northern Ireland appear likely to get the Conservatives across the line and allow them to govern.
Also, the share of the Tory vote is historically quite strong.
Forty-three per cent would be enough for an easy victory in many general elections.
However, this time the third-party vote collapsed to its lowest level in half a century and Labour benefited more than expected.
Will she stay or will she go?
According to media reports, that is a very live topic of conversation inside the Conservatives.
Ms May promised strong leadership and stable government for many years ahead.
Many believe her mandate has evaporated with her majority.
Former Conservative minister Anna Soubry said the Prime Minister "now has to obviously consider her position".
But Ms May's allies, like former Tory Leader Iain Duncan Smith, say the party needs stability as the nation approaches crucial Brexit talks.
They hope she remains in place.
What does it mean for Jeremy Corbyn?
The Labour result is much better than anyone expected, even though it did not win.
Most expect Jeremy Corbyn, who has increased Labour's seats and overall vote, will remain in his job.
What does it mean for Brexit negotiations?
Ms May called this election to boost her parliamentary majority and strengthen her Brexit negotiating hand — talks begin in 11 days.
But this election result may have given extra power to the pro-EU MPs within her own party.
They are already calling for a "pragmatic, balanced approach to negotiations".
That is a nuanced way of saying, "we want things to go our way".
This result will also undoubtedly embolden some in the European Union, who think the UK's bargaining position is now much weaker than it was before this campaign began.
What happens now?
This count has been taking place throughout the night.
Many MPs will now be having a sleep before reflecting on the current state of play.
For the second year in a row, the UK is waking up to an electoral earthquake.
All the consequences are impossible to predict.
Topics: government-and-politics, world-politics, elections, federal-elections, united-kingdom
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