It assigns to the pointer p the memory address "10".
So line 5 (where you have *p) will try to access the value stored in memory address 10, which could do all sorts of crazy things including (but not limited to): crashing, producing weird output, screwing over the rest of your program, killing your neighbor's dog (or Schrödinger's cat), and/or causing the Sun to go supernova (?!). (Okay, maybe not the last couple of things, but you get the point)