Asian shares fell hard on Monday. Big Tech stocks fell on Wall Street. That raised worry about interest rates.

Japan’s Nikkei 225 dropped 4.5%. It closed at 63,604.15. South Korea’s Kospi fell 8.2%. Taiwan’s Taiex lost 3.5%.

Hong Kong’s Hang Seng slipped 1.7%. The Shanghai Composite shed 1.8%. Trading was closed in Australia. It was for the King’s Birthday holiday. Japanese officials also cut first-quarter growth. They cut it to 1.8% from 2.1%.

Oil prices jumped on Monday. Israel launched airstrikes early Monday on central and western Iran. Israel said it acted after missile fire. Brent crude rose $4.55 to $97.64 a barrel. U.S. crude climbed $4.17 to $94.71. Iranian state TV reported explosions in Isfahan, Tabriz and Tehran.

Wall Street ended last week with its worst day since October. The S&P 500 fell 2.6%. The Dow Jones Industrial Average dropped 1.4%. The Nasdaq composite sank 4.2%.

A strong U.S. jobs report pushed Treasury yields higher. It also raised hopes that the Federal Reserve may raise rates this year.