Asian shares and the euro plummeted Monday as traders took their lead from a slumping Wall Street and worries that Hungary's public finances face a Greece-style meltdown.

LONDON, England - June 7, 2010 - Fresh fears for the global recovery were stoked after the United States released worse-than-expected jobs figures at the end of last week.

In Tokyo, the Nikkei tumbled 3.8% to 9,520.80. The Hang Seng index in Hong Kong closed 2.4% lower and shares in Sydney slumped 2.8%.

The U.S. announced Friday that 431,000 non-farm jobs were created in May, well below the 500,000 analysts had forecast, figures that soured international investor sentiment and are weighing on hopes for the world's biggest economy.

The figures led a sell-off on the Dow, which fell 3.15% Friday to its weakest close since February 8.

Traders were also fretting about further European currency woes after Hungary, which was bailed out in 2008 by the EU and International Monetary Fund, was facing fiscal trouble again.

Markets were spooked after a spokesman for the recently elected Hungarian prime minister hinted that the country could default.

The euro dipped below $1.19 in Asian trade for the first time since March 2006. It also plunged to 108.47 yen, the lowest level in more than eight years.

In Asian morning trade, the euro was at 1.1907 dollars and 108.63.

Energy markets also felt the effect. Oil fell below $70 in Asian trade Monday. Brent North Sea crude for July delivery shed $1.46 to $70.63.

And gold opened at $1,216.50-$1,217.50 an ounce in Hong Kong, up from Friday's close of $1,205.00 - $1,206.00 as dealers looked for safer assets.