Asian markets tumbled Monday after an outsized US jobs report dealt another blow to hopes for more interest rate cuts, while oil extended a rally sparked by new sanctions on Russia's energy sector.

Asian markets tumbled Monday after an outsized US jobs report dealt another blow to hopes for more interest rate cuts, while oil extended a rally sparked by new sanctions on Russia's energy sector.

European shares finished Friday in the red and near their session lows as government bond yields headed higher on the back of a stronger-than-expected reading for US non-farm payrolls in December.