NEW YORK (CNNMoney) -- European stocks fell sharply on Monday on renewed fears of a eurozone debt crisis and concerns about the global economy.
London's FTSE 100 (UKX) index finished its trading session down 3.2%, while France's CAC 40 (CAC40) dropped 4%. In Germany, the DAX (DAX) shed 5.3%.
The move followed more moderate drops in Asia's stock markets. Japan's Nikkei 225 (N225) index finished Monday trading down 1.9%, while Hong Kong's Hang Seng (HSI) index shed 3% for the day.
"Europe's faltering management of its crisis is starting to blur the line between a banking crisis and a euro crisis, resulting in a new vote of no confidence from the markets," Lena Komileva, an analyst for Brown Brothers Harriman in London, wrote Monday in a note to clients.
"Political brinkmanship" has put the possibility of a "disorderly" currency crisis and a break-up of the euro back on the table, she said.
"There no resolution to the situation in Europe," investment manager Randy Warren, who manages $75 million in assets for Warren Financial Services, said last week of the uncertainty in Europe. "The waves of fear just recede for a while."
U.S. stock markets are closed Monday for the Labor Day holiday.
On Friday, U.S. stocks ended sharply lower following a government report showing that no net new jobs were created in August -- sparking concerns that the U.S. may be headed for another recession. The Dow Jones industrial average shed 2.2% on Friday, while the S&P 500 index lost 2.5% and the tech-heavy Nasdaq dropped 2.6%. 
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| Index | Last | Change | % Change |
|---|---|---|---|
| Dow | 12,938.67 | -27.02 | -0.21% |
| Nasdaq | 2,933.17 | -15.40 | -0.52% |
| S&P 500 | 1,357.66 | -4.55 | -0.33% |
| Treasuries | 2.04 | 0.04 | 2.00% |
| Company | Price | Change | % Change |
|---|---|---|---|
| Bank of America Corp... | 7.95 | -0.16 | -1.97% |
| Microsoft Corp | 31.27 | -0.17 | -0.54% |
| Ford Motor Co | 12.28 | -0.25 | -2.00% |
| General Electric Co | 19.39 | 0.17 | 0.88% |
| Citigroup Inc | 32.36 | -1.00 | -3.00% |
| Overnight Avg Rate | Latest | Change | Last Week |
|---|---|---|---|
| 30 yr fixed | 3.91% | 3.81% | |
| 15 yr fixed | 3.17% | 3.13% | |
| 5/1 ARM | 2.87% | 2.83% | |
| 30 yr refi | 3.98% | 3.89% | |
| 15 yr refi | 3.27% | 3.23% |
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