France's CAC 40 and the German DAX both fell sharply, closing 0.94 and 1.2 percent down on Friday, while the FTSE 100 slipped 0.38 percent.
Basic resources dragged down sentiment on Friday, sinking 2 percent down. Mining giants Rio Tinto and BHP Billiton fell around 3 percent each, with other miners also under-performing by the close. Gold however hit a three and a half month high during Friday's trade.
Sticking with commodities, oil contractor Saipem missed fourth-quarter profit expectations in its earnings report and subsequently sank to the bottom of the STOXX 600, ending down 6.8 percent.
Brent and U.S. crude showed signs of weakness, trading at $56.09 and $54.04 at the market close, as data revealed that U.S. crude inventories had risen for the seventh consecutive week.