asian markets tracked another loss in new york on friday as interest rate hike fears course through trading floors after last weeks blockbuster jobs report while data in recent months has shown inflation is coming down the employment figures showed the economy remained robust leading several top federal reserve officials to warn much more work was needed to get prices under control having spent january optimistic that the days of central bank tightening would soon come to an end traders have been brought back down to earth this month as they contemplate borrowing costs going higher and staying there longer than expected richmond fed president thomas barkin added his voice to his colleagues this week in warning that the bank had to stay the course in lifting rates if it wanted to bring inflation down to its two percent target however with borrowing costs going higher still  and some warning it could go to a twodecadehigh six percent  fears are growing that the worlds top economy will tip into recession inflation most likely wont get conquered if the economy doesnt break said oandas edward moya disinflation trends remain in place but it will be hard for them to continue with a strong labour market and as the economy keeps on growing weve seen commodities and goods price declines but core services remain tricky he added that the fed would continue hiking until personal consumption expenditure  the banks preferred inflation gauge  was trending sharply lower and that might not happen until the summer he said after wall streets retreat most of asia was in the red analysts said next weeks consumer price index release will be a key data point which could play a big role in the feds plans for future rate hikes whether or not the fed has tightened financial conditions sufficiently to bring inflation down to target over time is going to be the most significant debate in the market agenda through the first half of the year said spi asset managements stephen innes he added that the fear is now that we could still be talking rate hikes in the third quarter eurodollar down at 10730 from 10739 on thursday pounddollar down at 12105 from 12117 europound up at 8866 pence from 8860 pence dollaryen down at 13154 yen from 13156 yen west texas intermediate down 04 percent at 7774 per barrel brent north sea crude down 03 percent at 8425 per barrel new york  dow down 07 percent at 3369988 close