European markets closed sharply lower on Monday, despite paring some losses, amid a staggering selloff in stock markets around the world.
The pan-European STOXX 600 index pared some losses to finish down 5.3 percent, having sunk a massive 6.7 percent around the U.S. open.
London's FTSE 100 index and the German DAX ended the day off by around 4.6 percent and 5.0 percent respectively. The French CAC slipped around 5.6 percent, recovering from an earlier 7 percent drop in trade.
The worst hit among major European bourses was Greece, which closed down around 10.5 percent.
In Asian trading, China's benchmark Shanghai Composite index ended the day down 8.5 percent as panic about the country's economic issues spread.
The vast majority of the companies listed on the STOXX 600 closed lower on Monday.
Among the worst performers were energy stocks, after the price of crude oil sank to six-and-half year lows on concerns over global growth and the health of the Chinese economy.