FXStreet (Mumbai) - The stock markets in Europe opened lower on Monday and extended losses following a risk averse action in the Asian equities. The mining heavy UK’s FTSE index fell to its lowest since August 24th. As of writing, the index traded 1.7% lower at 5860. The pan-European Stoxx 50 index was down 2.18%. The overwhelming bearish mood stays intact as investors fear a deflationary crash due to china slowdown and the drop in the oil and other commodity prices. Shares in Deutsche Bank were down 3.71% and were the top losers in the Stoxx 50 index. All 50 stocks are trading in the red. Meanwhile, shares in UK’s Randgold Resources and BHP Billiton were up 0.20% each. Shares in Tullow Oil were down 3.8%. For more information, read our latest forex news.