SQUAWK BOX, TUESDAY 18TH OCTOBER, 2022

UK Prime Minister Liz Truss says she recognises her mistakes and apologises for the way the mini-budget was launched and handled. Her new Chancellor Jeremy Hunt rips up the bulk of her economic programme in a bid to calm jittery markets. On Wall Street, tech stocks fight back, helping the Nasdaq to its best day since July. Bank of America shares surge following better-than-expected Q3 profits on the back of an increase in interest income. CEO Brian Moynihan tells our colleagues Stateside that U.S. consumer remains ‘very solid’. Credit Suisse is reportedly wooing the Abu Dhabi and the Saudi sovereign wealth funds for capital injections into its investment banking arm.