By Malvika Gurung
Investing.com -- The Nifty 50 Futures listed on the Singapore-based Exchange SGX, an early indicator for Nifty50 , was found trading 0.4% lower at 8:27 am on Wednesday, tracking sell-offs across the global markets and indicating Dalal Street to open on a flat-to-negative note. At the same time, the Dow Jones Futures was trading flat.
The three major indices of Wall Street declined amid a broad sell-off in the market, led by technology and bank stocks, triggered by surging bond yields. This was a result of renewed fears looming around the expectation of the Fed’s aggressive interest rate hikes to tackle rising inflation.
Bond yields continued to advance and the 10-year Treasury hit 1.87%, its highest in 2 years. Besides, Nasdaq closed at its lowest level in 3 months, and 90% of stocks in the S&P 500 index ended Tuesday in red.
Stocks across the Asian markets traded lower on Wednesday, tracking losses in Wall Street, amid rising US Treasury yields leading to a global sell-off, along with concerns regarding earlier-than-expected interest rate hikes.
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