NEW YORK (PNN) - October 8, 2012 - Markets in Europe got slammed Monday. However, they closed off of their lows.

England's FTSE 100 down 0.4%.

France's CAC 40 is down 1.2%.

Germany's DAX is down 1.2%.

Spain's IBEX is down 0.7%.

Italy's FTSE MIB is down 1.7%.

This followed a rough Asian trading session, which saw the Shanghai composite slide on its first day back from a weeklong vacation.

Weakness in Germany was exacerbated by a weak German manufacturing report that showed deterioration in the domestic economy.

Eurozone finance ministers meet later today in Luxembourg. Leading topics of discussion will include the financial health of Greece and Spain.

Spain has yet to request bailout funds, which most people see as inevitable.

Meanwhile, Fascist Police States of Amerika markets are down modestly.