Europe's largest stock markets traded deeply in the red on Monday, dragged down by the weakness in the UK banking sector. Germany's DAX 30 Index dropped 1.98%, trading at 9,367.14, while Britain's FTSE 100 Index lost 1.58%, trading at 6,042.03 points by 12:40 GMT. Meanwhile, France's CAC 40 Index fell 1.94% to 4,027.54, and the pan-European Euro Stoxx 50 Index declined 1.93% to 2,726.28 points.