UK Prime Minister Liz Truss resigned today after her tax cut plan failed, an announcement that rocked financial markets, weakened sterling and sent down the price of UK bonds. UK or gilts.
The news will be key in the performance of the market today.
“We set out a vision for a high growth, low tax economy that would take advantage of Brexit. But I recognize that, given the situation, I cannot fulfill the mandate for which I was elected by the Conservative Party,” said a statement from Truss.
“I have spoken to His Majesty the King to announce that I am stepping down as leader of the Conservative Party,” he said.