U.S. stocks ended lower on Monday.
The Dow Jones Industrial Average fell by 307.16 points, or 0.59 percent, to 51,839.26. The Standard and Poor's 500 sank 14.41 points, or 0.19 percent, to 7,443.28. The Nasdaq Composite Index shed 12.171 points, or 0.05 percent, to 25,508.07.
Eight of the 11 primary Standard and Poor's 500 sectors ended in red, with health and materials leading the laggards by going down 1.15 percent and 0.94 percent, respectively. Meanwhile, communication services and energy led the gainers by rising 0.74 percent and 0.55 percent, respectively.
U.S. stocks close lower
British Prime Minister Andy Burnham formed a new cabinet on Monday, appointing former Defense Secretary John Healey as Chancellor of the Exchequer, according to a statement from the his office.
Healey had resigned as defense secretary following disagreements over the previous government's defense spending plans. British media described his appointment as chancellor as unexpected.
Ed Miliband was appointed foreign secretary, while Shabana Mahmood remained home secretary. Louise Haigh was named first secretary of state, chancellor of the Duchy of Lancaster and minister for the Cabinet Office. Yvette Cooper was appointed health secretary, while Pat McFadden remained as work and pensions secretary.
In his inaugural speech outside 10 Downing Street earlier on Monday, Burnham pledged to deliver "the biggest changes in the last 40 years" and introduce "a new political model and a new economic model."
After Keir Starmer resigned as British prime minister on the same day, Burnham, the new leader of the ruling Labor Party, accepted King Charles III's invitation at Buckingham Palace to form a government and officially became the British prime minister.
British new PM Burnham forms new cabinet
