Rachel Reeves crying LIVE: Shades of Liz Truss as pound freefall | UK | News | EUROtoday

Rachel Reeves wiped away tears within the Commons on Wednesday – and promptly wiped billions off the UK markets.

The Chancellor was seen visibly emotional throughout Prime Minister’s Questions as Sir Keir Starmer appeared to forged doubt on her future by stopping in need of confirming she would stay in put up.

The dramatic scenes sparked a pointy response within the markets, with UK borrowing prices surging. The efficient rate of interest on 10-year authorities debt noticed one of many steepest rises for the reason that turmoil below Liz Truss’s short-lived premiership.

Sterling additionally took a success, sliding virtually 1 per cent towards the US greenback by the top of the day.

In whole, the sell-off wiped round £3 billion from the worth of UK markets – all whereas questions now swirl over Reeves’s long-term place in authorities.

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