Theresa May's gamble in calling a snap election appeared to have backfired in the early hours of Friday morning, as the exit poll prediction that the Conservative Party could lose its majority was confirmed.

Experts say the resulting hung parliament will lead to a period of political uncertainty and could throw Brexit negotiations — due to start 19 June — into disarray.

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With only a handful of seats to delcare, the results suggested the Conservatives would get 309 of the 650 seats in Parliament, down from 330, while the Labour Party was projected to win 258, up from 229. With this result, some form of minority or coalition government is now increasingly likely.

For Labour leader Jeremy Corbyn, who campaigned on leadership "for the many not the few," the results highlighted an incredible turn around. Written off by many pollsters, Labour surged in the final weeks of the campaign and the party drew strong support from young people, who are said to have voted in bigger-than-expected numbers in this election.

This has put pressure on May to resign. As she was re-elected to her Maidenhead seat , she said: "The country needs a period of stability and whatever the results are the Conservative Party will ensure we fulfil our duty in ensuring that stability so that we can all, as one country, go forward together."

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However, some say the Prime Minister would soon be gone.

"If the poll is anything like accurate, this is completely catastrophic for the Conservatives and for Theresa May," former Conservative Treasury chief George Osborne said on ITV. "Clearly if she's got a worse result than two years ago and is almost unable to form a government, then she, I doubt, will survive in the long term as Conservative Party leader."

Ed Balls, a former Labour Treasury chief, said it would hurt May's negotiating position with Europe.

"I don't see how she can be a strong and credible figure now to lead these negotiations," he said.

Corbyn said the result was a clear sign that voters have rejected Conservative austerity. Speaking after being re-elected to his Islington North seat, Corbyn said May should "go ... and make way for a government that is truly representative of all the people of this country.

The result was also bad news for the Scottish National Party, which had lost about 20 of its 54 seats by early on Friday. Among the casualties was Alex Salmond, a former first minister of Scotland and one of the party's highest-profile lawmakers.

Additional reporting from Associated Press.

From: Cosmopolitan UK