The UK investors are pulling billions from stock funds ahead of the upcoming budget, while the Bank of England is warning against loosening stablecoin rules.
In Georgia, a Turkish military plane crash has claimed multiple lives, and in Russia, a teenage street musician has been jailed again for performing anti-Kremlin songs.
A glance at major developments in Europe on Tuesday.
UK investors dump stocks amid budget fears
Since June 2025, UK investors have been pulling money out of stock funds at a record pace, selling off about £7.4 billion (that’s roughly $9.9 billion) worth of shares.
It’s now the longest streak of monthly outflows we’ve seen in years.
The sell-off really picked up speed in October, when investors yanked out £3.63 billion in just one month.
A lot of that seems to be driven by worries over the upcoming UK Budget and soaring stock valuations, particularly in the US.
Many investors are bracing for possible tax hikes and are moving their money into safer places like money market and bond funds instead.
Overall, it’s a clear sign that people are feeling cautious about the market and what might be coming next from fiscal policymakers.
Turkish military plane crashes in Georgia
A Turkish military C-130 cargo plane tragically crashed in Georgia, near the Azerbaijan border, on Tuesday. The aircraft was heading back to Turkey from Azerbaijan with 20 people on board, including the flight crew.
Witnesses say the plane started spiraling down and left a trail of white smoke before it hit the ground and exploded.
Turkish President Recep Tayyip Erdoğan said he was deeply saddened by the loss, calling the victims “martyrs.”
Search and rescue teams quickly moved in, working together with Georgian and Azerbaijani authorities to reach the crash site, which is located in Georgia’s Sighnaghi municipality.
Investigators are now trying to figure out what caused the crash.
BoE warns against weak stablecoin rules
Bank of England Deputy Governor Sarah Breeden has cautioned against watering down the Bank’s proposed rules for stablecoins, saying it could put the financial system at risk.
The Bank recently released a consultation paper outlining how it plans to regulate sterling-based stablecoins that could become “systemic,” basically, big enough to matter for the broader economy.
The proposal includes temporary limits of £20,000 per person and requires issuers to hold plenty of short-term UK government debt to back their coins.
The idea is to strike a balance between encouraging innovation and keeping the system stable, making sure that sudden withdrawals don’t cause chaos.
Breeden stressed that sticking to a strong framework is key to building trust and safely integrating stablecoins into the UK’s payment system.
Russian teen musician jailed for anti-Kremlin songs
An 18-year-old Russian street musician named Diana Loginova, who performs under the name Naoko, has been sentenced to another 13 days in jail for singing anti-Kremlin songs in St. Petersburg.
This is actually her third time being detained for her performances.
She’s been targeted before for playing banned songs by exiled Kremlin critics, including the anti-war track “Swan Lake Cooperative” by rapper Noize MC.
Authorities accuse her of disturbing public order and “discrediting” the Russian army, charges that have become increasingly common in the crackdown on dissent.
Despite all this, Naoko says she still believes in music’s power as a form of resistance, even though she’s careful not to make direct political statements.
Still, there’s concern that she could face more charges that might keep her behind bars even longer.
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