By Malvika Gurung
Investing.com -- The Nifty 50 Futures listed on the Singapore-based Exchange SGX, an early indicator for Nifty50 , was trading 1.41% or 221.3 points higher at 8:40 am on Friday, indicating a gap-up opening on Dalal Street.
Major indices on Wall Street continued their sharp beatdown on Thursday, as investor concerns grew around the high inflation, rising interest rates and a slowdown in the global economy.
The index S&P 500 neared its first bear market since the pandemic started, tumbling 18.7% from its record high set early this year, and zooming towards the 20% mark.
Target’s shares continued to plummet after falling nearly 25% on Wednesday.
Stocks across Asian markets began Friday on a positive note despite an overnight sell-off on Wall Street, led by bargain-hunting purchases that offset some risk-off sentiment among investors.
U.S. futures also climbed higher as a measure of calm returning to markets. However, concerns of an economic slowdown and China’s ongoing COVID-19 outbreaks could lead to more volatility.
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