Asian stock markets closed down sharply Monday, and Europe markets followed the course in morning trading, continuing a global slide that saw U.S. markets drop 3 percent Friday.

China’s Shanghai exchange ended the day down nearly 8.5 percent as investors watched to see what action Beijing might take.

The fall in markets across the globe in recent days is keyed mainly by a fear about a Chinese economy that is slowing more than had been expected.

Japan’s Nikkei lost 4.6 percent Monday for its lowest close in six months.  Hong Kong’s Hang Seng fell 4.9 percent.  Other markets in the Pacific region were also down sharply.

Meanwhile, markets in London, Paris and Frankfurt all opened at least 2.5 percent lower.

Oil prices also fell further Monday after recently dropping below $40 per barrel for the first time in several years.
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