Global stocks started the week lower Monday while the British pound continued to weaken amid escalating concerns over the U.K.’s future access to the European Union’s single market. The Stoxx Europe 600 fell 0.5% in the early minutes of trading, led by a 1.5% drop in the banking and auto sectors. Earlier, stocks mostly fell in Asian trading, with Japan’s Nikkei Stock Average down 1% as the stronger yen dragged down exporters. Hong Kong’s Hang Seng Index fell 0.9%, while the Shanghai Composite Index dropped 0.5%. U.S. markets will be closed Monday for the Martin Luther King holiday, a factor analysts said would likely limit global trading volumes.

Source: Wall Street Journal January 16, 2017 08:43 UTC