Sensex falls 400 points following US markets; Here is what is spooking the markets

Indian markets followed the US market cues in early trad as worries from rising Omicron cases to jitters ahead of a critical rate outlook meeting by the American central bank kept traders on the fence. The 30 stock Dow Jones Industrial Average traded 320 points lower while technology-focused Nasdaq Composite fell nearly 1.4%. The broader 500 stock gauge - S&P 500 retreated 0.9% in Monday's trade. Here are the headlines the global traders are reading -:

• Omicron Worry: China reported its first omicron case, Britain confirms first death from variant and Australia's New South Wales sees a 50% jump in cases in 24 hours. New York is requiring masks in all indoor places across the state
  
  
• Inflation Haunts: US reported highest inflation in 40 years, India's retail inflation clocked in at 3-month high, UK inflation likely to jump most since 2016.
  
  
• Fed Meet: The US central bank to begin 2-day meet on December 14. Markets await commentary on 'normalisation' of easy money policy. Traders expect Fed Chief Jerome Powell to signal the end of bond buying by the central bank by mid next year.

The central banks of US, England and Japan have meetings scheduled for this week.

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