By Malvika Gurung
Investing.com -- The Nifty 50 Futures listed on the Singapore-based Exchange SGX, an early indicator for Nifty50 , was trading flat at 8:55 am on Wednesday, indicating a muted opening on Dalal Street.
Major indices on Wall Street dived on Tuesday, following concerns about significantly weak consumer data and the retail major Walmart’s downgrading its forecast for the complete year, led by surging food and fuel prices and to pare inventories. Consequently, other retail stocks tanked too.
Further, economic data on US consumer confidence health plunged to a 1.5-year low in July amid red-hot inflation and constant worries of aggressive monetary tightening by the central bank.
Investors await the Fed’s two-day meeting results on Wednesday, expecting a 0.75 bps rate hike.
Stocks across Asian markets traded mixed on Wednesday as all eyes remain fixed on US Fed’s monetary meet decisions due today and Australia’s inflation report.
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