Nifty, Sensex slide as volatility soars

The latest news from the stock markets remains grim, with a second session marking losses across the board on the Sensex,Nifty.

Here are the highlights from Dalal Street-:

• Fears of more aggressive interest rate hikes from the Federal Reserve return to the fore.

• Sensex & Nifty following cue from US markets' weakness.

• S&P 500 snapped a four-week winning streak on Friday

• Federal Reserve Chairman Jerome Powell to address Jackson Hole symposium this week

• Markets expect Powell to tell Jackson Hole that recession won’t stop Fed’s fight against high inflation

• Concerns from China also rising as The People’s Bank of China cut its five-year loan prime rate by 15 basis points to 4.30% from 4.45%