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Asian stocks hit the biggest daily decline in more than a year on Monday, fears over inflation heating up against the bonds dragged the US stock market down from record highs and raised concerns that global central banks may have to be more aggressive in tightening policies.

MSCI Asia Pacific (except Japan) index fell 1.8%, the largest decline since the end of 2016 decline.

The E-Mini S & P 500 futures fell further by 0.44%, which is rare in the Asian session, suggesting the U.S. market will continue to decline later.

The Nikkei 225 declined 2.4%, the Australian share index S & P / ASX 200 fell 1.7% and the Shanghai and Shenzhen 300 Index CSI 300 dropped 1.1%.

Investors were upset by the U.S. nonfarm payrolls report released on Friday, which showed salary increases of more than eight and a half years the fastest and boosted inflation expectations.

Interest rate futures markets show the U.S. Federal Reserve (Fed / Fed) may raise interest rates three or more times this year.

"Payroll data shows that the salary pressures that emerge can not be ignored," said Alan Ruskin, macroeconomic strategist at Deutsche Bank.

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