Global stock markets struggled for momentum Friday as doubts built over whether the US Federal Reserve would cut interest rates next month and amid persistent fears of a tech bubble.

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

On Wall Street, the tech-heavy Nasdaq brought a chink of light, recovering from heavy selling on Thursday, while other indexes were mixed.

Major European and Asian indices finished in the red, with London losing 1.1 percent after UK government bonds and the pound slid following reports that finance minister Rachel Reeves had scrapped plans to raise income taxes in her budget speech this month.

Analysts said the reports heightened concerns about UK public finances.

Paris and Frankfurt also s

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