Sensex, Nifty Set To Drift Lower On US Economic Slowdown Worries
(RTTNews) - Indian shares look set to open on a sluggish note Monday after U.S. markets crashed on Friday amid economic slowdown worries.
Continued foreign fund outflows, concerns over U.S. President Donald Trump's tariff stance in his second term in office and the discovery of HKU5-CoV-2, a new coronavirus variant found in bats, may also keep investors on the edge in a holiday-shortened week.
Indian markets will remain shut on Wednesday, February 26, for Mahashivratri.
Asian markets traded mixed this morning, with upcoming quarterly results from AI darling Nvidia and the Federal Reserve's preferred readings on consumer price inflation in focus.
The euro strengthened after Germany's conservative party came in first in the national election. Gold edged lower while oil held steady after settling down more than $2 a barrel on Friday.
U.S. stocks fell sharply on Friday and posted steep weekly losses on economic concerns as economic data showed U.S. business activity decelerating, inflation expectations surging and consumer sentiment deteriorating,
The Dow plunged 1.7 percent to its lowest closing level in a month, while the tech-heavy Nasdaq Composite lost 2.2 percent and the S&P 500 shed 1.7 percent.
European stocks closed on a mixed note Friday as a busy week for earnings drew to a close and investors braced for the German snap election.
The pan European STOXX 600 gained half a percent. The German DAX slid 0.1 percent and the U.K.'s FTSE 100 ended little changed with a negative bias, while France's CAC 40 rose 0.4 percent.
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