Global stock markets sank Friday as doubts built over next month's US Federal Reserve interest rate decision and persistent speculation about a tech bubble.

Crude prices rallied as analysts cited risks to Russian oil flows due to Ukrainian strikes and US sanctions.

UK government bonds and the pound slid following reports that finance minister Rachel Reeves has scrapped plans to hike the income tax in her key budget this month.

Analysts said the reports heightened concerns about the health of the UK's public finances.

London's FTSE 100 index shed more than one percent, along with Paris and Frankfurt.

That tracked sharp losses in Asia and on Wall Street.

"It's certainly been a volatile week... with relief over the end of the (US government) shutdown vying with concerns over AI valuatio

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