German and French stocks fell more than 3.0 percent Monday on sinking oil prices, with Frankfurt's blue-chip DAX 30 index slipping under the 9,000 point mark for the first time since October 2014. 

At 1315 GMT, the DAX slumped 3.12 percent to 8,996.33 points while the CAC 40 in Paris lost 3.14 percent to 4,079.13 points.