European stock markets were lower in midday trading Monday.

London’s Financial Times 100 index was down one percent to 5,786. The CAC-40 in Paris dropped nearly one-and-one-quarter percent to 3,681. And the DAX in Frankfurt fell over one percent to 7,141.

The S&P futures contract was down 11 points, indicating a lower opening for U.S. markets.

In Asia, Japanese markets were closed for a national holiday .

Hong Kong’s Hang Seng index slipped three-tenths of a percent to end at 21,805.

Gold was trading at $1,601.79 an ounce.

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