European stock markets ended a choppy session in negative territory on Thursday, as a rally for some of the biggest post-election gainers ran out of steam in the afternoon. The pan-European benchmark had opened sharply higher, continuing a rally from Wednesday that came as investors digested how a Donald Trump presidency will impact the markets in the future. Healthcare and precious metals stocks were initially the biggest winners, but the optimism fizzled late on Thursday and dragged the overall markets lower.

Asian emerging markets sold off sharply Friday as U.S. Treasury yields rose overnight. "Global investors are favoring conditions in the U.S. market," said Alex Wijaya, senior sales trader at CMC Markets, pointing to soaring U.S. Treasury yields. "We are seeing a general flowing to the U.S."