European stock markets and global oil prices tanked on Friday, extending a rout as investors fret over the impact of US President Donald Trump's tariffs onslaught.

Frankfurt's DAX index of blue-chip companies fell as much as five percent after midday while Paris shed four percent and London was down 3.8 percent.

Crude oil prices fell more than five percent, with Brent North Sea, the international benchmark, reaching $66.64 per barrel after already hitting the lowest level since December 2021 while US contract WTI dropped to $63.45.

This is a developing story and more information will follow.