European stock markets erased earlier gains and turned firmly lower on Thursday, yanked lower by a euro rally after the European Central Bank said eurozone growth was surprisingly strong and offered only limited pushback against the Trump administration's embrace of dollar weakness.

The S&P 500 and the Dow Jones Industrial Average logged fresh records on the back of robust earnings but both indexes finished off intraday highs in volatile trading as the buck rebounded following President Donald Trump's dollar-supportive comments.

Asian equities traded mixed Friday, while the dollar steadied after President Donald Trump waded into the unusual public discussion over exchange rates. Trump said that he favored a strong greenback, just a day after his Treasury secretary endorsed a weaker dollar as good for trade, sending the currency down.