Markets crack: Sensex sinks 1000 points, Nifty below 16000

Bears took full control of Dalal Street on Thursday as the benchmark 30 stock index Sensex slid over 1000 points in early trade and the actively traded Nifty 50 collapsed below the 16,000 mark shaving off over 300 points.

The drop mirrors global worries as major indexes on Wall Street declined more than 3.5% each overnight, with the Dow Jones Industrial Average closing at its lowest since March 2021.

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The worries of multi-decade high inflation and rate hikes along with the prolonged war and covid is adding to supply disruption. The bumps in business and revenue is leading to large layoffs across industries and sectors.

Right now only 2 Asia-Pacific markets are giving positive returns to the investors, Singapore and Indonesia.

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