The FTSE 100 is expected to open sharply lower when trading resumes on Monday following the sharp falls in the US on Friday and news that Russia is suspending gas deliveries via the Nord Stream 1 pipeline indefinitely.
Spread betting companies are calling the lead index down by around 80 points.
The Dow closed Friday down 338 points, 1.1%, at 31,319, the Nasdaq Composite lost 154 points, 1.3%, to 11,631 and the S&P 500 slipped 42 points, 1.1%, to 3,924.
The benchmarks started positive but turned sour in the afternoon, clinching their third-straight week of losses. For the Nasdaq Composite, Friday was the sixth-consecutive losing day.
In London, the confirmation of a new Prime Minister will take centre stage with Liz Truss expected to be confirmed as Boris Johnson’s replacement while results from Dechra Pharmaceuticals (LON:DPH) are also due.