FTSE drops as gilt yields High
The FTSE 100 fell as the market opened on Monday.
Two weeks ago the Bank of England's move to calm the markets led the government to pay interest on its loans to the highest point.
The return on 10-year government gilts, essentially an IOU rose to 4.6% on Monday.
An announcement by Chancellor Quasi Quarteng was told that he would set further financial plans on Halloween.
Yields had risen after the chancellor's last fiscal program in less than three weeks - to nearly 4.5% on September 27.
This forced the bank to take steps to avoid a fall in some pension funds, which could spread to the rest of the financial system.
It forced the Bank to step in to avoid a collapse in some pension funds, which could have spilled over into the rest of the financial system.
The FTSE 100 was heading in the other direction and yields were rising, giving back its value on Monday.