European stocks retreated on Friday, as global markets monitor falling commodity prices while continuing to digest a hawkish pivot from the U.S. Federal Reserve.

Shares in Asia-Pacific were mixed on Friday as investors watched for market moves in the commodities sector after a recent tumble in prices was triggered by a strengthening of the U.S. dollar.

Stateside, U.S. stocks fell on Friday with the Dow Jones Industrial Average on pace to post its worst week since January. Sentiment this week was dominated by the Fed raising inflation expectations and moving forward its rate hike schedule, a move that sent the dollar soaring and impacted commodity prices and rival currencies.

On the data front, May’s U.K. retail sales fell 1.4% month on month, official statistics revealed Friday, falling short of the 1.6% expansion expected by economists in a Reuters poll. The Office for National Statistics said food stores contributed most prominently to the surprise decline. The pound tumbled to a new six-week low on the back of the dip.

In terms of individual share price movement, Dutch life insurer Aegon fell 5.5% fell toward the bottom of the Stoxx 600 while compatriot pharmacist Shop Apotheke Europe climbed nearly 5%.

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