European shares drop on Greek deadlock, Chinese slowdown

From reuters.com

European shares traded sharply lower on Monday as Greece's failure to form a government threatened to deepen the euro zone crisis and signs that China was struggling to shore up its economy also dented sentiment. Euro zone banks fell 3 percent by 0755 GMT after Greek political leaders failed in their latest efforts to form a ruling coalition, raising the spectre the country may exit the euro zone and sending the common currency to a four-month low. Adding to the negative tone, German Chancellor Angela Merkel's conservatives suffered a crushing defeat on Sunday in an election in Germany's most ... (full story)