In European Equity Markets the pan-European Stoxx 600 closed down 0.63 percent, with almost all sectors and major bourses in negative territory. Auto stocks led the losses on Friday, trading 1.29 percent lower. Volkswagen, Renault and Fiat Chrysler led an 8.1 percent decline in European car sales in November. France’s Plastic Omnium fell close to the bottom of the European benchmark, falling 7.04 percent after a flurry of rating downgrades.

In Currency Markets the US dollar rose on Friday, reaching a 19-month high against a basket of currencies, as investors preferred the safety of the world’s reserve currency in the wake of worrisome political and economic news outside the United States. The Chinese yuan fell after data showed retail sales grew in November at their slowest pace since 2003 and industrial output rose the least in nearly three years. The offshore yuan shed 0.38 percent. The euro was down 0.5 percent at $1.12965 after German data showed private-sector expansion slowed to a four-year low in December

In Commodities Markets oil prices fell more than one percent on Friday, weighed down by a falling U.S. stock market, while weak economic data from China pointed to lower fuel demand in the world’s biggest oil importer. Brent crude futures fell 75 cents to $60.70 a barrel, a 1.2 percent loss. U.S. West Texas Intermediate (WTI) crude futures fell 93 cents to $51.65 a barrel, a 1.8 percent loss. Global benchmark Brent was set for a weekly loss of about 1.7 percent, while WTI was on track to decline 1.9 percent.

In US Equity Markets stocks fell 0.8 percent on Friday, as weak economic data from China and Europe exacerbated global growth fears and added to nerves about the U.S.-China trade talks. Johnson & Johnson fell 4.0 percent after Reuters reported the company knew for decades that asbestos lurked in its Baby Powder. The stock was the biggest drag on the S&P 500 and Dow Industrials. The S&P 500 was down 0.82 percent, at 2,628.72 and the Nasdaq Composite was down 1.17 percent, at 6,987.58.

In Bond Markets borrowing costs in the euro area fell on Friday as weak data from the euro zone and China fanned worries about global growth, a day after the ECB trimmed growth forecasts and said downside economic risks were becoming more prominent. Germany’s 10-year Bund yield was down 3 basis points at 0.25 percent, keeping recent six-month lows in sight. Most other 10-year bond yields in the bloc were down a similar amount.