LONDON, March 6 (Reuters) - European stocks and U.S. futures tumbled on Friday as the U.S.-Iran war drove fresh concerns about oil supplies, prompting traders to wind in their bets on interest rate cuts and fret about the impact on the global economy.
Benchmark global and U.S. oil prices hit their highest levels in almost two years as U.S. Treasuries fell for the fifth day in a row. Global stocks headed for their biggest weekly drop in a year.
Futures for the U.S. S&P 500 fell 0.62% while Nasdaq futures dropped 0.75%.
Europe’s STOXX 600 index dropped 1.04% in choppy trading, undoing an earlier rise of almost 0.5% as oil prices appeared to stabilize.
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