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Australia's S&P ASX 200 lost 1.3 per cent, while South Korea's Kospi Composite dropped 0.5 per cent.
Risk averse stock market traders appeared to be keener to go after safe haven currencies and gold.
In a note to clients cited by the Wall Street Journal, Credit Agricole stated: "Any improvement in sentiment following the US dollar liquidity announcement by various central banks last week is already filtering away against the background of EU officials' failure to make any headway over the weekend."
It added this trend is likely to continue throughout the week unless the US Federal Reserve takes action that improves confidence among traders.
While Asian stocks struggled this morning, on Friday (September 15th) the Nikkei 225 climbed at the fastest rate seen since March, advancing 2.3 per cent.
Posted by Clive Arneil
