European stocks fell from a 13-year high on Friday, closing in negative territory as UBS Group PLC lead banking shares lower after a financial update. The Stoxx Europe 600 index SXXP, -0.30% shed 0.3% to 366.38, trimming its weekly gain to 1.1%.

U.S. stocks closed mostly lower on Friday after a monumental week that pushed the Dow Jones Industrial Average above 20,000 for the first time as investors weighed disappointing fourth-quarter data on domestic economic growth and a spate of earnings.

President Donald Trump's executive order on immigration and muted American GDP data have put traders in Asia back into risk-off positions, though many markets in the region are on a holiday break. Late Friday, Trump suspended the U.S. refugee program for four months and banned for 90 days entry into the U.S. for nationals from Iran, Iraq, Libya, Somali, Sudan, Syria and Yemen.