Man walks by electronic signboard showing drop of Hong Kong's blue-chip Hang Seng Index, 5 Mar 2007

US, Asian, and European stock prices declined Monday, extending a week of losses on the world's markets.

Major U.S. stock indexes swung between gains and losses in Monday's volatile trading but were down as much as one percent by the close.

Some analysts said traders were worried about mortgage defaults, a strengthening yen, and tumbling stock markets abroad.

Major indexes in London, Paris, and Frankfurt also lost as much as one percent.

Asian stock markets were hit even harder, with major indexes in Japan, Hong Kong, and India down between three and four percent at the close of trading.

The losses Monday follow major declines in stock prices last week in many markets.

An almost nine percent slump in Shanghai last Tuesday triggered a wave of selling on global markets, many of which had been trading near record highs.

Some information for this report was provided by AP and Bloomberg.