European stocks lost ground Thursday, with Deutsche Bank AG among the companies whose shares investors are chopping down in the wake of financial updates. U.K. stocks, however, bucked the negative trend on Thursday, moving higher after the Bank of England struck a more dovish tone in its latest policy update than analysts had expected.

U.S. stocks closed mostly lower after bouncing around Thursday as concerns about President Donald Trump's approach on foreign affairs amid spats with key allies and trade partners cast a pall over the market. A round of headlines from Trump's administration included a decision to put Iran "on notice" over potential new sanctions and testy exchanges with the heads of two of the U.S.'s best allies and trade partners: Australia and Mexico.

Stock investors were struggling for footing Friday as encouraging economic data this week was counterbalanced by concern of political risk surrounding the administration of U.S. President Donald Trump. "Everyone is talking about it...the U.S. could be moving away from globalization," said Chris Weston, chief market strategist at IG.