Rishi Sunak is favourite to replace her, followed by Penny Morduant and new chancellor Jeremy Hunt.
"What we've seen just now is a humiliation for Truss and govt but more than anything else it is a humbling day for Britain," Lewis Goodall said.
It impacts their relationship, according to one colleague at the University of Leeds.
It comes after Kwasi Kwarteng was fired from the position after being in the position for barely a month.
"The PM will find it difficult to survive"
Truss is preparing to reverse his mini-Budget today.
Such an outcome seems far fetched, but it is not without precedent...
The billionaire recently suggested that Russia should be allowed to annex Crimea, provoking a furious backlash from Ukrainian officials.
"The one big thing that's happened since 2012 is Brexit... We were all lied to on an industrial scale."
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