By Malvika Gurung
Investing.com -- The Nifty 50 Futures listed on the Singapore-based Exchange SGX, an early indicator for Nifty50 , traded 0.45% or 79 points lower at 8:55 am on Friday amid weak global cues, indicating a negative opening on Dalal Street.
Major indices on Wall Street continued their downward streak, falling for the third straight session on Thursday as investors reacted to the Fed’s supersized rate hike and ultra-hawkish outlook to tame sticky inflation.
Stocks across Asian markets followed weak cues from Wall Street’s overnight performance and continued to fall on Friday. Australian shares tanked to an over 2-month low in the session.
At 8:50 am, Japan’s Nikkei 225 corrected 0.6%, South Korea’s KOSPI plunged 1.6%, China’s Shanghai Composite fell 1.1%, Hong Kong’s Hang Seng index declined 0.8% and Australia's S&P/ASX 200 crashed 1.9%.
The Bank of England raised interest rates to 2.25% from 1.75% on Thursday in its fight against high inflation despite the economy entering a recession.
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