Oil prices fell more than 1% on Monday, extending losses of over 3% from Friday when crude markets slipped to their biggest monthly losses in six months amid stalling demand and as trade wars fanned fears of a global economic slowdown.

Oil prices extend drops as trade wars fan fears in financial markets

Apple dropped 8 per cent in extended trading late in the day after the iPhone maker slashed its outlook for the December quarter, blaming weak demand in China.

Wall Street ekes out gains, Apple cuts revenue forecast after the bell

The US Federal Reserve had raised its lending rate last December for the first time since 2006 by a quarter-percentage point

Fed expected to keep interest rates unchanged in wake of possible Brexit