Europe stocks end 5% lower in massive slump

European markets closed sharply lower on Monday, despite paring some losses, as the steep selloff in stock markets around the world continued.

The pan-European Stoxx 600 index pared some losses finishing down 5.3 percent, having sank a massive 6.7 percent around the U.S. open.

London's FTSE 100 index ended down 4.4 percent, the German DAXwas off by around 4.7 percent, while the French CAC slipped over 5.5 percent, recovering from an earlier 7 percent drop in trade.

The worst hit among major European bourses was Greece, which closed down around 10.5 percent .... http://www.cnbc.com