European stock markets were sharply lower in midday trading Monday.

London’s Financial Times 100 index dropped 2.07 percent , to 5,107. The CAC-40 in Paris plunged 4.11 percent , to 2,852. And the DAX in Frankfurt fell 2.86 percent , at 5,041.

The S&P futures contract was down 22 points, indicating a severely lower opening for U.S. markets.

In Asia, Tokyo’s Nikkei index dropped 2.3 percent to close at 8,536.

Hong Kong’s Hang Seng index plunged 4.2 percent to end at 19,031.

Gold was trading at $1,835.73 an ounce.

The U.S. dollar was mixed against other major currencies.