The FTSE 100 closed at 7,321.19 on Friday, down 2.1% from Thursday's close as investors continued to grapple with concerns over rising inflation.
Shares in energy and financial sectors suffered the most significant losses, with BP and Royal Dutch Shell leading the declines in the oil majors.
The global market selloff is being driven by a combination of factors, including the ongoing conflict between Ukraine and Russia, supply chain disruptions, and rising energy costs. 'This is not just an issue for the UK or Europe - it's a global problem,' said David Taylor, chief economist at investment firm Atlas Asset Management.
The selloff in global markets has also been exacerbated by the US Federal Reserve's decision to raise interest rates last week. Analysts predict that further volatility will be seen in coming weeks as investors respond to these economic pressures.