Consumers are nervously awaiting the budget, reports data provider GfK, while national debt hits highest level since 1960s.   15:28 A day after stocks hit record highs, the mood on Wall Street is a little more subdued today.

Starmer insists he is setting out reality of ‘badly damaged economy’ as GfK survey shows sharp fall in household morale

The last time the index declined so steeply was in April 2022, in the wake of Russia's invasion of Ukraine which sent energy costs soaring.