Asian markets struggled Monday on simmering concerns that the Federal Reserve will not cut interest rates as hoped next month, while fears of a bubble continue to weigh on sentiment.

The increasingly risk-averse mood on trading floors also dragged on the crypto sector, with bitcoin erasing all its gains this year -- just over a month after hitting a record high.

Meanwhile, simmering tensions between China and Japan hit tourism and retail firms on Tokyo's exchange.

Stocks have enjoyed a healthy rally since their tariff-fuelled swoon in April, with tech firms leading the way as companies pumped eye-watering amounts of cash into all things linked to artificial intelligence.

That has been compounded by a weakening US jobs market that has fanned expectations the Fed will cut rates.

However

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