Asian Shares Plummet Amid Bond Market Jitters

Asian shares declined across the board on Monday, with the exception of Australia's S&P/ASX 200, which gained 0.5% to 9,107.40.

The Nikkei 225 fell 0.5% to 65,678.45 in Tokyo, while South Korea's Kospi lost 3.5% to 6,664.36.

The Hang Seng in Hong Kong declined 2.1% to 25,465.23 and the Shanghai Composite index gave up 0.7% to 3,877.30.

In other regions, Taiwan's Taiex fell 0.5%, while investors wait for key economic updates, including a report on personal consumption expenditures (PCE) in July, which is the Federal Reserve's preferred measure of inflation.

On Friday, the S&P 500 rose 0.4% for just its second gain in six days since setting an all-time high last week, and corporate profits have been strong, helping push stocks to records.