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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 ditched plans to raise income tax to help fill an expected fiscal deficit.
The Treasury signalled the change came because of
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