In European Equity Markets the pan-European Stoxx 600 closed 0.42 percent lower with most major bourses seen in the red. Basic resources fell 3.57 percent and auto stocks were off by 1.96 percent as global trade concerns weighed further on sentiment. Oil stocks were also among the biggest fallers, down 1.4 percent, as crude prices fell. Banking stocks were also lower, falling 1.21 percent. One standout stock in the sector, UBS, saw its share price down 2.65 percent after the U.S. Justice Department filed a suit against the bank.

In Currency Markets the U.S. dollar rose towards a 16-month high against the euro on Friday after the U.S. Federal Reserve kept interest rates steady and reaffirmed its monetary tightening stance, setting up for a fourth interest rate hike this year in December. The euro last traded at $1.135, down 0.12 percent. Sterling changed hands at $1.304, down 0.14 percent. The British currency has benefited recently from growing investor expectations that Britain is close to reaching a deal with the EU, less than five months before it is due to exit the bloc.

In Commodities Markets oil prices fell more than one percent on Friday, with U.S. crude on track for its longest losing streak since 1984 as global supply increased and investors worried about the impact of lower economic growth and trade disputes on fuel demand. Benchmark Brent crude fell below $70 a barrel for the first time since early April, and was down nearly 20 percent since reaching four-year highs at the beginning of October. Brent crude futures fell 53 cents to $70.12 a barrel, a 0.8 percent loss. It was down about 3.7 percent for the week and more than 15 percent this quarter.

In US Equity Markets stocks fell on Friday, with shares of technology, energy and industrial companies taking a hit from concerns about global growth after a batch of weak Chinese data and a slide in oil prices. As investors sold growth stocks, the S&P technology index fell 1.76 percent, led by Apple Inc’s 2.4 percent slide and semiconductor stocks falling 2.21 percent. The S&P 500 was down 0.91 percent, at 2,781.36 and the Nasdaq Composite fell 1.60 percent, at 7,410.68. Eight of the 11 major S&P sectors were lower, with slight gains seen in the defensive real estate.

In Bond Markets German 10-year bond yields headed to their biggest one-day decline since late September on Friday. Germany’s 10-year government bond fell 4.8 basis points in late trade to a session low of 0.406 percent, putting it on track for its biggest one-day decline since Sept. 28. Italian bond yields, pushed higher by concerns over Italy’s standoff with the EU over its 2019 budget, came off the day’s highs as trading wound down. High-grade euro zone sovereign bonds were all up to four basis points lowers.