Asian stock markets closed sharply lower Monday.

Tokyo's Nikkei index dropped 2.17 percent , to close at 8,374.

Hong Kong's Hang Seng index fell 1.48 percent , to end at 17,408.

Elsewhere, share prices dropped in Taipei, Kuala Lumpur, Jakarta, Wellington and Manila. Markets also closed lower in Shanghai, Seoul, Sydney, Singapore, Mumbai and Bangkok.

The U.S. dollar was quoted at 76.38 yen, down a quarter of a yen from late Friday.

Gold was trading at $1,613.39 an ounce.