Asia-Pacific markets continued their sell-off ahead of a week of inflation readings from across the region and South Korea's third-quarter gross domestic product numbers.
Australia will release inflation figures for September on Wednesday, while Japan will release Tokyo's inflation numbers on Friday. Tokyo's inflation is considered a leading indicator of nationwide figures.
Singapore saw its September inflation rate rise slightly to 4.1% from 4% in August, in line with expectations.
In Australia, the S&P/ASX 200 fell 0.82% to close at 6,844.1, extending declines from last week for a third straight session of losses.
Japan's Nikkei 225 slipped 0.83% to end the day at 30,999.55, the third time the index closed below the 31,000 mark this month. Before October, it has held above 31,000 since May. The Topix was down 0.75% and ended at 2,238.81.
South Korea's Kospi closed 0.76% lower at 2,357.02, marking its third day of losses, while the Kosdaq reversed early gains to end down 0.72% in a fourth straight daily loss.
Hong Kong's markets are closed for a holiday Monday, but the mainland Chinese CSI 300 index closed down 1.04% to slump to its lowest closing level since February 2019 at 3,474.24.
On Friday in the U.S., all three major indexes retreated as a surge in the 10-year Treasury yield prompted broader concerns about the state of the economy.
Most notably, the yield on the benchmark 10-year Treasury crossed 5% for the first time in 16 years on Thursday.
The S&P 500 shed 1.26%, notching its first losing week in three, while the Nasdaq Composite dropped 1.53% The Dow Jones Industrial Average lost 0.86%.
— CNBC's Pia Singh and Alex Harring contributed to this report.