Global shares sank to their lowest point in 18 months on Thursday, following inflation, rising interest rates, and energy supply fears in Europe.
This follows a warning from Germany that Russia is using energy supplies as a "weapon", to put pressure on Europe's STOXX 600 index.
The global index is now almost 20% lower for the year to date.
In the U.S., all three major stock indexes fluctuated before going into a steep sell-off, putting the S&P 500 within a closing level, that may confirm a bear market entry.
Brent crude futures settled 6 cents lower at 107.45-dollars a barrel while U.S. crude oil futures ended 42 cents higher at 106.13-dollars a barrel.