European markets closed lower on Monday as investors ponder economic risks in the region, reignited by concerns about the energy supply from Russia.

The pan-European Stoxx 600 provisionally ended down 0.6%, having recouped some of its earlier losses. Autos plunged 4.8% to lead losses as most sectors and major bourses slid deep into negative territory. Oil and gas stocks bucked the downward trend to add 2% as prices spiked once more.

The sharp downward moves for risk assets came after Russia's state-owned energy giant Gazprom announced that gas flows to Europe via the Nord Stream 1 pipeline would be halted indefinitely, citing additional repair requirements. The euro fell sharply while European gas prices soared.

@Daily_Discussion