Covid Spike Concerns: Sensex, Nifty drop over 1% as global markets crack

U.S. markets fell aggressively with the 30 stock Dow Jones index plunging over 900 points at the lowest point of the day. Even commodities saw relentless selling with crude oil dropping swiftly below the $70 mark. Here are the global headlines traders are tracking-:

• Dow closed down 700 points; Broad-based rout all 30 stocks lower
• Energy, financials and industrials were the worst-performing sectors
• U.S. is averaging nearly 26,000 new Covid cases a day in the last seven days 
• Crude prices shed 7.5% to settle at $66.42 a barrel
• OPEC+ agreed to begin phasing out production cuts pushing prices lower

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