In European Equity Markets indices fell on Friday as worse-than-expected economic data intensified concerns around slowing global growth. The pan-European Stoxx 600 fell 1.29 percent, with all sectors and bourses turning negative. Equities were initially positive earlier in the session. Nokia fell to the bottom of the Stoxx 600 after the Finnish telecommunications firm published its annual report. The firm said in the report Thursday that it did not plan to take on any new business in Iran this year, citing conflicting U.S. and European trade policies. Shares fell over 5 percent.

In Currency Markets sterling rallied on Friday, helped by a weaker euro and after European Union leaders gave UK Prime Minister Theresa May a two-week reprieve to decide how Britain will leave the European Union. EU leaders have described the two-week extension as a last chance for Britain to secure an orderly Brexit. The pound was up 0.6 percent at $1.3188, while its gains versus the euro were as high as 1.5 percent to 85.49 pence. The gain was largely on the back of weakness in the single currency following disappointing data out of Germany.

In Commodities Markets oil fell about 2 percent on Friday, slipping further from 2019 highs as focus shifted to a lack of progress in U.S.-China trade talks and as grim manufacturing data from Germany and the U.S. reignited fears of a slowdown in the global economy and oil demand. Brent crude futures were at $66.58 per barrel, $1.28, or 1.9 percent below their last close and down about 0.8 percent on the week. The contract hit a four-month high of $68.69 on Thursday. U.S. West Texas Intermediate (WTI) futures were down $1.48, or 2.5 percent, at $58.50 per barrel.

In US Equity Markets main indexes declined about 1 percent on Friday after a raft of weak manufacturing data from the United States and Europe led to a yield-curve inversion, stoking fears of an economic slowdown. The S&P 500 was down 0.95 percent, at 2,827.90 and the Nasdaq Composite fell 1.11 percent, at 7,751.64. Only the defensive utilities, real estate and consumer staples sectors were trading higher. Nike Inc fell 4.9 percent after the sportswear maker’s quarterly revenue failed to beat Wall Street estimates. Its partner Foot Locker Inc fell 4.4 percent.

In US Equity Markets Germany’s 10-year bond yield dived below zero percent on Friday for the first time since October 2016, as a survey showing German manufacturing contracted for a third straight month fueled fears about a widespread European slowdown. Germany’s 10-year bond yield slid over 6 basis points to minus 0.032 percent, its lowest since October 2016. French and Dutch long-dated bond yields hit their lowest since 2016, British gilt yields fell to their lowest since September 2017 and the 10-year U.S. Treasury yields slid 10 bps to 14-month lows.