European stocks extend losses on Monday

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.