By the afternoon the markets had recovered.
If the German leading index Dax fell below the 15,000 mark in early trading, it was quoted above it again during the course of the day.
So it's not all that bad in the end?
Even if Russian President Putin signaled further willingness to negotiate on Monday and thus brought some relief, the danger of war in Ukraine has by no means been averted.
The uncertainty in the region and the consequences of a military conflict only add to investors' current concerns.
The nervousness is great.
Even if the ECB is still hesitating, the US Federal Reserve has promised the first rate hikes.
The money gates are beginning to close.
It was cheap money that had been flooding the markets for years and, despite all the corona concerns, drove the stock indices to new highs again and again.
This time is coming to an end.
It's not the time to panic, but the time to rethink your investment strategy.