Volatile Markets: Oil Plunge and Currency Surges Shake Europe

European markets experienced a dramatic reversal on Thursday as oil prices fell sharply after climbing to a four-year high.

UK gilt yields also declined following the Bank of England's decision to maintain current interest rates, and a surge in the yen fueled speculation about potential foreign exchange intervention.

Amidst a pending European Central Bank rate decision and earnings reports from major players like Apple, the volatile session reflected ongoing uncertainties in global markets.

(With inputs from agencies.)