Highlights

  • Fed meet on June 14-15
  • Traders raise bets on a 75 bps hike

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Monday meltdown for markets

US inflation soared to a 40 year high 

Melting portfolios across markets as equities, currency and crypto saw a collapse in Monday's trade. Sensex dropped over 1400 points while Nifty lost 16,000 conclusively as the bulls took a back seat.

Traders raised bets that the Fed will make money more expensive by raising rates by 75 bps as it concludes its been on June 14-15. The fear gauge on Dalal Street or the VIX soared 10% as midcaps and smallcaps also hurled lower by over 2%.

Banks and metals were hit the hardest with newly listed LIC tumbling below the Rs 700 mark.

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