US equities markets closed higher on Friday on the back of a moderate increase in the Fed's preferred inflation gauge- the core personal consumption expenditure index, to 0.1% month over month and 2.8% year on year in November.
Meanwhile, European markets closed lower while investors digested the rate decisions made by the Fed; Bank of England and the Bank of Japan.
Asia Pacific markets also tumbled after the People's Bank of China held its one year rate at 3.1% and the five year rate at 3.6% and Japan's core inflation came in at 2.7% in November, while the median estimate was 2.6%.
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