S&P tumbles 6% as global sell-off jolts Indian markets
The S&P 500 plunged 6%, marking its worst day since March 2020, as US markets triggered a global rout. Indian indices followed suit, with the Sensex down over 2,200 points. Recession fears are spreading fast, pulling IT and pharma stocks lower. With the Nasdaq in bear territory, investors brace for continued volatility across markets worldwide.
The global sell-off, which began in the US, spread to Asia and Europe, with stock markets plummeting across the board. The S&P 500, which is considered a benchmark for the US stock market, fell 6% to 3,923, its worst day since March 2020 when the COVID-19 pandemic was at its peak. The Dow Jones Industrial Average also fell 4.3% to 32,283, while the Nasdaq Composite Index fell 5.5% to 11,444, entering bear territory.
The sell-off was triggered by worries about the global economy, which is facing headwinds from rising inflation, supply chain disruptions, and the COVID-19 pandemic. The yield on the 10-year US Treasury note fell to 1.43%, its lowest level in over two years, as investors sought safe-haven assets.
In India, the Sensex fell 2,235 points to 57,131, while the Nifty 50 fell 678 points to 17,024. The IT sector was hit hard, with stocks like TCS, Infosys, and Wipro falling by up to 6%. The pharma sector also fell, with stocks like Sun Pharma and Dr. Reddy’s falling by up to 5%.
Recession fears are spreading fast, with many investors worried about the impact of inflation on the economy. The US Federal Reserve has raised interest rates four times this year, and many investors expect it to raise rates again in the coming months. The Fed’s actions are expected to slow down the economy, which could lead to a recession.
The sell-off has also been triggered by concerns about the global supply chain, which is facing disruptions due to the pandemic. The pandemic has led to lockdowns and restrictions in many countries, which has disrupted the supply chain and led to shortages of goods.
The sell-off has also been triggered by concerns about the global economy, which is facing headwinds from rising inflation. The inflation rate in the US has risen to 5.4%, its highest level in over 13 years, which has led to concerns about the impact on the economy.
Investors are also worried about the impact of the pandemic on the economy. The pandemic has led to lockdowns and restrictions in many countries, which has disrupted the supply chain and led to shortages of goods. The pandemic has also led to a surge in unemployment, which has led to concerns about the impact on the economy.
The sell-off has also been triggered by concerns about the global economy, which is facing headwinds from rising inflation. The inflation rate in the US has risen to 5.4%, its highest level in over 13 years, which has led to concerns about the impact on the economy.
The sell-off has also been triggered by concerns about the global economy, which is facing headwinds from rising inflation. The inflation rate in the US has risen to 5.4%, its highest level in over 13 years, which has led to concerns about the impact on the economy.
In conclusion, the S&P tumbled 6% as global sell-off jolts Indian markets. The sell-off was triggered by worries about the global economy, which is facing headwinds from rising inflation, supply chain disruptions, and the COVID-19 pandemic. The sell-off has also been triggered by concerns about the global economy, which is facing headwinds from rising inflation. The inflation rate in the US has risen to 5.4%, its highest level in over 13 years, which has led to concerns about the impact on the economy.
News Source: https://www.thecore.in/podcasts/us-stocks-whacked-for-the-third-day-833088
