Asian shares fall after US stocks tumbled last week

Asian shares declined Monday after U.S. stocks ended last week on a tumble as global markets' expectations for higher interest rates continued to set the tone. Japan's benchmark Nikkei 225 lost 1.9% in morning trading to 26,583.70.

The news that Emmanuel Macron won the run-off French presidential election over the weekend, clinching a second term as was widely expected, reassured markets that France won't abruptly shift course in the midst of the conflict in Ukraine.

Rising COVID-19 cases in China are setting off worries about more pandemic lockdowns that would crimp economic recoveries in the region.

Other nations are also dealing with economic woes related to COVID-19, such as the absence of tourism revenue in Japan, where cases are still going up and down while it gradually opens its borders, but only to business travelers.

Several reports from U.S. companies, which have already been released, have been disappointing, contributing to the fall that ended last week on Wall Street.