Investing.com - World stocks were set for a third straight week of losses on Friday and commodity currencies took another drubbing as oil prices fell back below $30, keeping alive concerns about global growth.
European stocks fell more than 1%, heading back toward Thursday's 13-month lows, while Asian shares skidded to 3-1/2 year lows.
Oil prices, which posted their first significant gains for 2016 on Thursday, came under fresh selling pressure as the prospect of additional Iranian supply loomed over the market.
The collapse in oil prices has spooked financial markets as investors worry about the health of the global economy, with a slowdown in China and volatility in its markets making for a nervous start to the year.