European stocks declined on Friday, suffering a second straight weekly loss, as disappointing corporate updates and broker downgrades provided pressure. Equities were also weighed by a stronger euro against the dollar, after the greenback stumbled on news top officials from President Donald Trump's election campaign were subpoenaed in the Russia probe.

U.S. stocks finished lower on Friday, with the S&P 500 and the Dow logging a second straight week of losses as investors tracked the progress of the Republican tax cut plan wending its way through the legislative grind.

Asian stocks are broadly lower on Monday as Japanese export growth weakened unexpectedly in October and a political impasse in Germany dent investor risk appetite and helped spur demand for safe-haven assets.