Stocks hit and bond yields jump amid tax U-turn talk

The FTSE 100 Index closed down 1.1% at 9,698.37 (Philip Toscano/PA) - (PA Archive)

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.