US crude prices plunged on OPEC's decision to not cut output, but there could be more losses when markets return to full strength next week.
Gold settled nearly 2 percent lower, extending a three-day slide to a two-week low.
The dollar gained on Friday as concerns about continuing low oil prices added to deflation fears in the euro zone and Japan.
Asian equity markets were mixed on Friday following weak economic data and as oil prices extended their slide.
European shares closed higher with investors reacting to fresh euro zone data, but oil stocks slid after OPEC decided to leave output unchanged.
Gold dipped for a second session on Thursday, holding below $1,200 an ounce, as outflows resumed from the top bullion exchange-traded fund.
The euro fell against the dollar after data showed Spanish consumer prices falling more than expected.
Brent crude oil fell more than $3 to a fresh four-year low under $75 a barrel on Thursday after OPEC decided not to cut production.
Stocks little moved on Wednesday after data had durable goods declining and jobless claims rising.
Asian stocks were mixed on Thursday following a record close on Wall Street, with Japan continuing to underperform due to a stronger currency.
Yields hit their lowest levels in over a month on weaker-than-expected US data and continued low yields in Europe.
European shares closed mixed on Wednesday, with the German DAX clocking up its tenth straight session of gains.
U.S. stock futures were trading mostly lower on Friday, after global markets were hit by OPEC's announcement that it would not cut its output.
Recent strong US data has fueled talk that the Federal Reserve could soon raise interest rates, depressing gold.
Brent crude oil traded near a barrel after Saudi Arabia signaled it was unlikely to push for big change in oil output.
Disappointing U.S. data raised concern that the world's biggest economy is losing momentum in the final months of 2014.
Asian equities rose on Wednesday following better-than-expected U.S. growth data but Japan underperformed on the back of a stronger currency.
Stocks rose Tuesday after data had the U.S. economy growing more than forecast in the third quarter.
Wall Street looked set for a lower open as futures digested higher jobless claims and other economic data.
European shares closed flat on Tuesday as investors digested revised third quarter GDP data from the U.S.
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