UK markets were plunged into fresh volatility as speculation about the budget heightened uncertainty over the nation’s fiscal position. Government bond yields jumped the most since July, and the pound and FTSE 100 stock index slumped, after overnight reports that Chancellor of the Exchequer Rachel Reeves was dropping plans to raise income tax. The moves pared after Bloomberg News reported that improved UK forecasts were behind the move. Bloomberg’s James Woolcock reports.
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