By Malvika Gurung
Investing.com -- The Nifty 50 Futures listed on the Singapore-based Exchange SGX, an early indicator for Nifty50 , traded 0.41% or 75 points lower at 8:15 am on Wednesday, tracking weak global cues and indicating a lower opening on Dalal Street.
Major US indices tanked on Tuesday due to a lack of decision over the debt ceiling negotiations, as the deadline for avoiding default and raising the government’s borrowing limit inched closer.
This pushed the one-month Treasury yields to record peaks in the session at 5.88%. Investors will closely assess the minutes of the FOMC meeting conducted on May 2-3 today, to check for the US Fed’s next move on the interest rate hike.
Asian shares declined sharply on Wednesday, tracking a fall in Wall Street’s overnight session as traders reacted to a lack of progress around the US debt ceiling negotiations in Washington.
Oil prices jumped on Wednesday as the American Petroleum Institute (API) data signalled a sharp drop in U.S. inventories, indicating tighter supplies, although concerns over slowing economic growth and a U.S. debt default continued to persist, an Investing.com report noted.
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