Asian markets sank Friday as a mini rally came to a juddering halt ahead of a keenly awaited speech by Federal Reserve boss Jerome Powell later in the day, with traders increasingly worried the bank will hike interest rates further.titans including Amazon and Apple were among the big losers as Treasury yields rose and data indicated the US jobs market was still resilient in the face of tighter financial conditions.
But that has given way to the realisation that more work is needed to get inflation down to -- and held at -- the Fed's two percent target.Analysts said Powell must tread a fine line in his Friday speech at the annual symposium of central bankers and business leaders in Jackson Hole, Wyoming. And Krishna Guha, of Evercore ISI, added the Fed chief would likely avoid saying when rates would be at an ideal level when they are neither boosting nor restricting the economy.