King Charles III made his first speech in his new role as the British monarch, paying respects to his mother Queen Elizabeth II.

Video Transcript

RACHELLE AKUFFO: All right, thanks, Ines. We're now getting you up to speed what's happening in the UK. On his first full day as King Charles III following the death of Queen Elizabeth II, he was greeted by crowds at Buckingham Palace and a 96-gun salute tribute to the late monarch. In his first speech as king, King Charles paid tribute to his late mother.

- To my darling mama, as you begin your last great journey to join my dear late papa, I want simply to say this, thank you. Thank you for your love and devotion to our family and to the family of nations you have served so diligently all these years. May flights of angels sing thee to thy rest.

RACHELLE AKUFFO: Now there will be no government announcements until her funeral, but this adds to what's already been a big week of change in the UK. With new Prime Minister Liz Truss beginning her role, you also have the backdrop of the worst energy crisis in Europe, inflation estimated to hit 18% next year, increased inequality, and a bleak economic outlook. Well, let's take it back to the markets. Seana.