U.S. financial markets are closed in honor of former President George H.W. Bush's funeral. The New York Stock Exchange and Nasdaq will be shut in observance of a national day of mourning for the U.S.'s 41st president, who died Friday at the age of 94. Bond markets will also be closed.

Other global markets will operate on a normal schedule, though volumes will be lighter than normal.

World stocks were dragged lower, following a sharp overnight selloff on Wall Street, as worries about a potential economic slowdown and the state of the U.S.-China trade war kept buyers on the sidelines.

Back in Europe, investors are keeping a watchful eye on any further political developments in the UK, as lawmakers continue to debate Westminster's Brexit plan.