European stock markets settled lower on Friday. Europe's leading Blue-chip index, EURO STOXX 50 plunged 129.50 points or 3.52 percent to settle at 3,674.05.

While UK's benchmark index FTSE 100 lost 65.82 points or 0.93 percent to close at 6,994.63. Germany's benchmark index DAX plunged 310.16 points or 2.58 percent to end at 11,688.70.

Meanwhile, French benchmark index CAC 40 fell 81.23 points or 1.55 percent to end at 5,143.26.