Asian markets extend losses as US rate hike fears build

Stocks sank again Friday after another report pointing to a resilient US jobs market added to the misery for investors who fear the Federal Reserve is not finished with its campaign of monetary tightening.

The losses extended a sell-off endured for most of the week as various indicators suggested the world’s top economy was in rude health and the battle against inflation was still far from won, while Chinese data showed continued weakness.

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