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

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