LONDON (AP) The Bank of England took emergency action Wednesday to stabilize U.K. financial markets and head off a crisis in the broader economy after the government spooked investors with a program of unfunded tax cutsLinks to an external site., sending the pound tumbling and the cost of government debt soaring. The Bank of England said it would buy long-term government bonds over the next two weeks to combat a recent slide in British financial assets Links to an external site.. The banks actions are focused on long-term government debt, where yields have soared in recent days, pushing up government borrowing costs. The British pound plunged to a record low Links to an external site. against the U.S. dollar Monday following

Please explain why the British pound plunge/dropped in not more than four lines.