Asian markets suffered heavy losses Monday amid anxiety over disappointing job creation figures from the United States.

South Korea's main stock index was down by 4.39 percent at the close, while losses topped 2.3 percent in Australia and 1.8 percent in Japan. Hong Kong's main index was down more than 2.5 percent in late trading.

Analysts said the sell-off came in reaction to Friday's U.S jobs report, with the heaviest losses suffered by Asian companies that rely on export sales to the United States. Major electronics makers Sony, Panasonic and Sharp all were down more than 3 percent in morning trading.

The Dow Jones Industrial Average fell by 2.2 percent in New York on Friday after the government reported no net gain in jobs during the month of August, raising fears of a double-dip recession. U.S. markets are closed Monday for the Labor Day holiday.