Confidence over UK is ebbing away as pound plummets - analyst

The pound has fallen to a fresh 37-year low against the dollar as markets react to the chancellor's mini-budget announcement.

UK stocks also slid after Kwasi Kwarteng outlined a series of tax cuts and economic measures in a massive shake-up of the country's finances.

The pound fell by more than 1% against the dollar, dropping below $1.11.

Financial commentator Susannah Streeter told the BBC: "Confidence really [is] ebbing away on the financial markets about the government's strategy."