GLOBAL MARKETS-European stocks hit 7-year high on ECB easing, euro sinks

* Wall St stung by soft corporate earnings * European shares have best week since 2011 on ECB QE, * Euro slumps towards $1.11 to 11-year low * Treasuries rally as European bond yields decline By Michael Connor NEW YORK, Jan 23 (Reuters) - European stocks hit seven-year highs on Friday, continuing a rally ignited by the European Central Bank's plan for massive regional economic stimuli that also knocked the euro to fresh 11-year lows. Wall Street fell on soft corporate ea