German shares lost on Monday, with the benchmark DAX index down 176.44 points, or 1.36 percent, to close at 12,834.11 points.

All 30 blue chips lost Monday. Automotive manufacturer Volkswagen lost the most among the blue chips, down by 3.22 percent, followed by sportswear and equipment maker Adidas and multinational chemical firm Linde, which lost 2.62 percent and 2.44 percent respectively.

Volkswagen was the most traded share of the day with a turnover of 346.33 million euros (402.19 million U.S. dollars).