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Oil prices dropped around half a percent on Monday, extending sharp declines after Britain's vote to leave the European Union sparked a sharp selloff in global markets on Friday amid concerns over risk aversion. Global financial markets plunged on Friday as results from a referendum defied bookmakers' odds to show a 52-48 percent victory for the campaign to leave a bloc Britain joined more than 40 years ago. Oil prices were also under pressure as the British pound fell anew in early Asian trading on Monday, with investors still at a loss as to what happens next now that the country has voted to leave the European Union.
MADRID (AP) — Spain's repeat election Sunday failed to clarify the political future of the European Union's fifth-largest economy, as another inconclusive ballot compelled political leaders to resume six months of negotiations on who should form a government.