Canada's benchmark TSE 300 slid 109 points, or 1.4%, to 7707.10, led by Nortel after the tech giant warned of dismal earnings. Gold and utility shares were higher, while the tech-laden industrial products group dropped.
European markets finished lower, with concerns over high debt levels at telecom equipment maker Marconi pressuring stocks. In London, the Financial Times 100 ended off 51.40 points, or 0.90%, to 5,671.60. Germany's DAX Index slid 46.14 points, or 0.78%, at 5,869.04. In France, the CAC 40 finished down 83.56 points, or 1.59%, to 5,160.28.
Asian equity markets ended lower. In Japan, the Nikkei 225 Index ended Monday down 92.59 points, or 0.72%, to finish at 12,697.79. Hong Kong's Hang Seng index lost 153.72 points, or 1.17%, to 12,948.78.