World shares skidded and the dollar firmed on Monday ahead of a week packed with global central bank meetings, while debt troubles at property group China Evergrande dragged Hong Kong stocks towards to a one-year low.
European shares sank 1.8 percent to a two-month low on Monday, tracking Asian equities lower, with energy and mining stocks tumbling as the dollar's jump to near four-week highs crushed commodity prices.
Holidays in Japan, China and South Korea meant trading was thin in Asia, while politics added extra uncertainty with elections in Canada and Germany bookending the week.
Shares in China Evergrande plummeted 12 percent after earlier losing as much as 19 percent to more than 11-year lows.
The company's listed units also fell, as investors worried about the real estate developer's ability to repay a small portion of its $305 billion debt due this Thursday.
Evergrande's troubles added to growing concerns about the health of China's economy after Beijing's recent crackdown on tech firms. The Hang Seng index shed 3.5 percent, while Singapore-traded FTSE China futures fell 3 percent.
MSCI's broadest index of Asia-Pacific shares outside Japan slid 1.7% to its lowest since August 24, with Australia stocks, in their worst session in nearly seven months, slumping 2.1 percent.
The MSCI All Country World Index lost 0.5 percent, close to a one-month low and down further from record highs hit earlier this month.