Opening Bell: U.S. Stocks Slip as Brexit Fallout Continues; European Banks Sink

U.S. stocks opened lower on Monday, as investors continued to digest the shocks from last week's historic Brexit vote. The pound lost two percent against the dollar as investors fled to safe-haven currencies like the Japanese Yen. Meanwhile, U.S. listed shares of European banks moved sharply lower. Barclays (BCS) - Get Report fell 21 percent, trading at a seven year low. Rivals Deutsche Bank (DB) - Get Report and the Royal Bank of Scotland (RBS) - Get Report also posted steep declines. Finally, Federal Reserve Janet Yellen cancelled an appearance at a European Central Bank conference in Portugal on Wednesday. Bank of England Governor Mark Carney also pulled out. Both were expected to answer tough questions about Brexit. TheStreet's Scott Gamm reports from Wall Street.