Asian stocks slump as traders dial back rate cut bets

Asian shares fell on Monday and the dollar climbed after a robust U.S. jobs report dashed any expectations of a near-term interest rate cut from the Federal Reserve, while stocks in China stocks remained on the back foot on weak sentiment. Oil prices were tentative following fresh strikes in Tehran-aligned factions in Iraq, Syria and Yemen over the last two days by the United States, with rising tension in the Middle East keeping risk appetite in check. MSCI's broadest index of Asia-Pacific shares outside Japan slid 1% at the start of the week.