SEOUL, South Korea (AP) -- Global stocks were lower on Monday as caution among investors prevailed with lingering doubts about the future policy agenda of the new U.S. administration following the health care reform failure.
KEEPING SCORE: Britain's FTSE 200 slid 0.8 percent to 7,280.49. France's CAC 40 lost 0.5 percent to 4,994.32 and Germany's DAX fell 0.8 percent to 11,964.75. Futures augured sharp losses on Wall Street. Dow futures dropped 0.7 percent while S&P futures sank 0.9 percent.
U.S. HEALTH OVERHAUL: Analysts said House Republicans' failure to repeal Barack Obama's health care law raised questions about the prospect of President Donald Trump's pro-growth agenda from taxes to infrastructure to the budget. Trump and Republican leaders yanked their bill to repeal "Obamacare" off the House floor Friday when it became clear it would fail. The health care act became a proxy for the rest of the Trump administration, dominating the global stock markets for most of last week. Investors are waiting for more details about the state of Trump's business-friendly agenda.
ANALYST'S VIEWPOINT: "The new administration's hasty withdrawal of the failed health care reform bill vote certainly contrasted their initial confidence," said Jingyi Pan, a market strategist at IG in Singapore. "Beyond the impact on health care, the vote had been seen as a test to the self-proclaimed dealmaker and the new administration's abilities to also deliver other promises, including tax and infrastructure policies."
ASIA'S DAY: The Nikkei 225 finished 1.4 percent lower at 18,985.59, while South Korea's Kospi closed 0.6 percent lower at 2,155.66. Hong Kong's Hang Seng declined 0.7 percent to 24,180.10, while the Shanghai Composite Index was flat at 3,268.96. Australia's S&P/ASX 200 fell 0.1 percent to 5,746.70. Stocks in Singapore and other Southeast Asian countries were lower.
OIL: U.S. crude oil futures fell 32 cents to $47.66 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 27 cents to settle at $47.97 a barrel in New York on Friday. Brent crude, used to price international oils, lost 25 cents to $50.67 a barrel in London.
CURRENCIES: The dollar weakened to 110.33 yen from 111.34, while the euro rose to $1.0854 from $1.0799.