European stocks ended a choppy day lower on Monday as investors continued to weigh the deteriorating economic outlook in the region.
European markets
The pan-European Stoxx 600 provisionally ended down 0.4%, having earlier fallen more than 0.8%. Utilities dropped 2.3% while travel stocks added over 2%.
Concern for the global growth outlook has been increasing as inflation remains high and central banks resort to aggressive interest rate hikes to try to tame rising prices.
The British pound plunged to a record low of $1.0382 early in the day, following last week's announcement by the new U.K. government that it would implement tax cuts and investment incentives to boost growth. By 4:30 p.m. it had risen to $1.0666, but remained 1.6% down on the previous session.
Investors in Europe are also watching Italy following a snap election on Sunday. The country is on course to elect its first female prime minister and the first government led by the far-right since the end of World War II.
Shares in Asia-Pacific fell sharply on Monday, and U.S. stocks opened lower.