The Indian stock market is expected to open in the red as trends on SGX Nifty indicate a negative opening for the broader index in India with a loss of 88 points. The BSE Sensex fell 365 points to 54,471, while the Nifty50 slipped 109 points to 16,302 and formed a bullish candle which resembles the Spinning Top kind of pattern formation on the daily charts, indicating indecisiveness among bulls and bears.US MarketsThe S&P 500 ended below 4,000 for the first time since late March 2021 and the Nasdaq dropped more than 4% on Monday in a selloff led by mega-cap growth shares as investors grew more concerned about rising interest rates.The Nasdaq closed at its lowest level since November 2020. Apple shares dropped 3.3% and were the biggest weight on the Nasdaq and the S&P 500. Microsoft Corp dropped 3.7% and Tesla Inc fell 9.1%.The Dow Jones Industrial Average fell 653.67 points, or 1.99%, to 32,245.7, while the S&P 500 lost 132.1 points, or 3.20%, to 3,991.24, its lowest close since March 31, 2021. The Nasdaq Composite dropped 521.41 points, or 4.29%, to 11,623.25Asian MarketsAsian shares tumbled to their lowest in nearly two years on Tuesday as investors shed riskier assets on worries about higher interest rates and their impact on economic growth, while the dollar held near 20-year highs.MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.8%, falling for a seventh straight session and extending declines to 17% so far this year. Across Asia, share indexes were a sea of red. The Nikkei lost 0.9%, Australian shares shed 2.5% and Korean stocks lost 2%.
The Indian stock market is expected to open in the red as trends on SGX Nifty indicate a negative opening for the broader index in India with a loss of 88 points. The BSE Sensex fell 365 points to 54,471, while the Nifty50 slipped 109 points to 16,302 and formed a bullish candle which resembles the Spinning Top kind of pattern formation on the daily charts, indicating indecisiveness among bulls and bears.US MarketsThe S&P 500 ended below 4,000 for the first time since late March 2021 and the Nasdaq dropped more than 4% on Monday in a selloff led by mega-cap growth shares as investors grew more concerned about rising interest rates.The Nasdaq closed at its lowest level since November 2020. Apple shares dropped 3.3% and were the biggest weight on the Nasdaq and the S&P 500. Microsoft Corp dropped 3.7% and Tesla Inc fell 9.1%.The Dow Jones Industrial Average fell 653.67 points, or 1.99%, to 32,245.7, while the S&P 500 lost 132.1 points, or 3.20%, to 3,991.24, its lowest close since March 31, 2021. The Nasdaq Composite dropped 521.41 points, or 4.29%, to 11,623.25Asian MarketsAsian shares tumbled to their lowest in nearly two years on Tuesday as investors shed riskier assets on worries about higher interest rates and their impact on economic growth, while the dollar held near 20-year highs.MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.8%, falling for a seventh straight session and extending declines to 17% so far this year. Across Asia, share indexes were a sea of red. The Nikkei lost 0.9%, Australian shares shed 2.5% and Korean stocks lost 2%.