The Brexit of Tiger Woods: Golf legend withdraws from British Open

Tiger Woods has bowed out of the British Open, which is set to start in about two weeks. Organizers of the tournament at the Royal & Ancient Golf Club announced Friday that Woods would be replaced in the the Open field by Australian Marcus Fraser. The four-day tournament starts July 14. The 40-year-old, 14-time major champion Woods hasn't played in a competitive golf tournament since August 2015 due to nagging back injuries.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.