Definition: In this task, a passage will be given and the goal is to identify an event from the passage. An event is defined as a single word representing something that happened, is happening, or may happen. An event can be factual or hypothetical, positive or negative, certain or uncertain. While most events are based on verbs, an event can also be based on a noun (ex. storm, snow, rainfall) or a copula verb (is, was, been, etc.). The event must not be a pronoun or an adjective. For noun events with multiple words, use the last word in the phrase as event.
Input: Passage: London share prices closed sharply lower Friday in active trading after Chancellor of the Exchequer Nigel Lawson's resignation slapped the market and Wall Street's rapid initial sell-off knocked it down. London shares were depressed initially by overnight losses in New York and by the drop in sterling after Mr. Lawson's resignation.

resignation