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Stocks fell and bond yields spiked in volatile trading on Friday amid uncertainty over UK Budget proposals after an apparent U-turn on tax policy by Chancellor Rachel Reeves.

The FTSE 100 Index closed down 109.31 points, 1.1%, at 9,698.37. It had earlier traded as low as 9,610.45.

The FTSE 250 ended 175.95 points lower, 0.8%, at 21,819.56, and the AIM All-Share slid 8.95 points, 1.2%, at 746.51.

For the week, the FTSE 100 was up 0.2%, as was the FTSE 250, while the AIM All-Share fell 0.7%.

Market volatility came after the Financial Times reported Ms Reeves had ditc

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