European markets closed lower. In London, the Financial Times-Stock Exchange 100 index was down 202.80 points, or 4.95%, to 3,895.50.
France's CAC 40 shed 174.35 points, or 5.25%, to 3,149.69.
Germany's DAX index slid 200.45 points, or 5.15%, to 3,691.43 on worries about economy and pending elections. German May construction orders fell 9% and are down 13.8% over the past year. On the plus side, May factory orders rose a revised 3.3% vs. 3.1% originally reported.
Asian markets ended lower. In Japan, the Nikkei 225 index fell 13.35 points or 0.13%, to 10,189.01 as worsening sentiment resulting from sharp slides in U.S. markets last Friday was offset by an unexpected wave of buying from domestic pension funds.
In Hong Kong, the benchmark Hang Seng index lost 215.21 points, or 2.08%, to close at 10,110.25.