UK economic chaos, pound plunge hits business

For millions across the United Kingdom, things went from bad to worse after the promise of huge unfunded tax cuts sparked turmoil in financial markets and sent the British pound tumbling to a record low against the U.S. dollar this week.

That would be yet another squeeze on people whose household energy bills are going up Saturday even though Truss' plan capped a more devastating 80% rise as natural gas prices soar. In London's famous Oxford Street shopping district, some local residents expressed anger and concern towards the government's handling of the cost-of-living crisis.