Highlights

  • US markets made a dramatic turn in late trade
  • Federal Reserve to raise rates in May meeting

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Sensex, Nifty weak on Fed rate hike fears

Sensex tanks 600 points, Nifty nears 17,200

Sensex, Nifty weak on Fed rate hike fears

Sensex and Nifty opened weaker along with global cues as markets across US to Asia fell after hawkish comments from the Fed Chair.

Broader Asian market gauge fell about 1% to a more than one-month low as yields shot up in anticipation of higher and faster hikes from the Federal Reserve.

Also read/watch| Fed fears spark sell-off, Powell braces for 50 bps hike, and more

Powell’s statements are critical as they come at a time when the US central bank is trying to tame inflation that is running at its fastest pace in more than 40 years.

News bases stocks such as Adani Ports on a new acquisition and HCL Tech on the back of strong earnings bucked the downside trend.

Frequently Asked Questions

The Sensex and Nifty opened weaker due to negative global cues, as markets from the US to Asia fell following hawkish comments from the US Federal Reserve Chair.

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