Stock markets tumble as oil prices surge in biggest weekly gain since 2020

Stock markets globally continued to take a hammering as oil prices also rocketed in their biggest weekly gain for six years with no sign of a swift resolution to the conflict in the Middle East. - (PA Wire)

Global stock markets have continued to take a hammering as oil prices rocketed in their biggest weekly gain for six years, with no sign of a swift resolution to the conflict in the Middle East.

London’s FTSE 100 Index slumped 1.6% lower at one stage before closing about 130 points, or 1.2%, lower at 10,284.75 on Friday.