Wall Street, USA:- US Inflation concerns with the CPI data in the backyard, which is predicted to be high, might slash the world markets for many days in the future.
Citing the data the markets dropped by multiple percentages, with DowJones down by 2.35%, NASDAQ down by 11392%, and Sensex down by 1.84%.
Nikkie snapped its 5-day gaining streak and followed the US Inflation concerns and the rising food and commodities prices across the globe.
Indian market saw a pull out of the FII, which is the continued trend for over a year now and may rise to 7 times more than the last year.
The good news for the Indian market is the DIIs, with an equal amount of money pushed into the stock market by the DIIs have somewhat saved the market from crashing and the business saved themselves from the predicted recession.
Nikkie 225, the TSE Index snapped its 5-day streak and dropped 1.49%, and has a concern for falling as the bank rates might increase following the Inflation and job loss.
The inflation has already pushed the big economic giants like India to raise the bank rates, with RBI raising 50 to 4.90% for the second time in a row.
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