£300B Wiped From UK Markets in Truss' First Month as PM

The video discusses the impact of the UK government's push for growth on market credibility, interest rates, and the mortgage sector. It highlights investor concerns about the sustainability of fiscal expansion and the need for a report from the Office of Budget Responsibility. The rising UK mortgage rates, surpassing 6% for the first time since 2008, pose risks to the banking sector, leading to a sell-off in UK bank stocks. The government's policy changes, including tax cuts, have led to market relief but also raised questions about the long-term viability of their growth strategy.

What was the market's reaction to the government's fiscal policies as discussed in the text?

In what ways might the government's push for growth impact the overall economy?