*GLOBAL STOCKS PLUNGE TO END THE WEEK ON LINGERING INFLATION, RECESSION FEARS -
index rose 0.56% and MSCI's gauge of stocks across the globe shed 1.30%.Sterling was last trading at $1.1171, down 1.39%, after falling as low as $1.1149.
Friday was expected to be the last day of the Bank of England's bond buying program set up to stabilize government bond, or gilt markets, after investors were spooked by unfunded tax cuts announced in a"mini-budget" last month. Investors appeared to have little confidence in the prime minister's position or the likelihood that her decisions on Friday could restore Britain's credibility in financial markets.Japanese Finance Minister Shunichi Suzuki on Thursday reiterated the government's readiness to take steps against excessive currency volatility.
In U.S. Treasuries, yields edged higher as investors continued to digest Thursday's red-hot U.S. inflation print and contemplated interest rates staying higher for longer with the Fed's policy rate potential moving closer to 5%.Oil prices landed down more than 3% as fears of a global recession and weak oil demand, especially in China, outweighed support from a large cut to the OPEC+ supply target.
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