The most recent British government under Prime Minister Liz Truss announced a mini-budget on September 23rd that caused a massive turmoil in the financial markets. The British pound dropped to all time lows vs. the USD, UK interest rates skyrocketed and continued selling of UK government bonds eventually lead the Bank of England to intervene in the market to break a vicious circle of self reinforcing fire sales and prevent a market meltdown. The government was quickly forced into a U-turn regarding its fiscal policy and the first victim was the Chancellor who handed in his resignation.