European shares fell to their lowest level in more than two months on Monday, hit by a sell-off in cyclical stocks and widespread unease in markets over a possible British exit from the European Union, Reuters reported. The pan-European FTSEurofirst 300 index was down 1.4 percent at 1,289.95 points by 1137 GMT after hitting its lowest since early April and extending the previous session's 2.3 percent drop. The STOXX Europe 600 was trading 1.5 percent lower after setting its lowest in more than two months. European shares came under further selling pressure following a risk-off pattern in global markets as investors positioned for central bank meetings this week and a referendum on Britain's EU membership set for June 23. Before then, the U.S. Federal Reserve, Bank of England, Swiss National Bank and the Bank of Japan are all expected to hold monetary policy steady against a backdrop of caution heightened by the Brexit issue. Brent crude prices dipped below $50 a barrel for the first time in a week, hit by a darkening economic outlook.
