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UK markets have lost $500 billion since Liz Truss took over as PM

Taking the helm at a time when the UK economy was already grappling with the specter of recession, the Truss government's new fiscal policies fueled concerns that inflation and borrowing would surge

London Stock exchange, Stock exchange
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Sagarika Jaisinghani | Bloomberg
The UK’s stock and bond markets have lost at least $500 billion in combined value since Liz Truss took over as Prime Minister, with investor confidence shattered by a shock tax-cutting budget. 

Taking the helm at a time when the UK economy was already grappling with the specter of recession, the Truss government’s new fiscal policies fueled concerns that inflation and borrowing would surge at a time of rapidly rising interest rates. That triggered a cross-asset selloff so severe that it sent the pound to a record low and sparked chatter about emergency action by the Bank of England.

“Confidence in the

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First Published: Sep 27 2022 | 6:53 PM IST

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