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U.S. stocks dipped once again as the Federal Reserve remained resolute in its hawkish stance to battle inflation. Treasuries pared losses, with the 10-year yield rising three basis points to 3.76%.
The S&P 500 fell 2.2%, while the tech-heavy Nasdaq joined the downturn with a 3.1% decline. Meanwhile, oil rose 0.2% amid OPEC+ discussions over slashing output at its meeting next week. Gold changed little, whereas Bitcoin held on to the $19,000-level.
The rout continued in the Indian benchmark indices for the seventh session in a row on Thursday. The volatile day saw losses in consumer discretionary, power, utilities, banking, and auto stocks, while healthcare and metal stocks gained.
A day before RBI’s monetary policy announcement, the rupee recovered from its record low against the U.S. dollar but shed most of its gains over the course of the day. At 7 a.m., the Singapore-traded SGX Nifty — an early barometer of India’s benchmark Nifty 50 — fell 0.39% to 16,746.5.
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Image and article originally from www.bqprime.com. Read the original article here.