Stock Market Live: Benchmark indices Sensex and Nifty are eying another negative start on Friday amid rising risk-off sentiment after US Fed Chief Jerome Powell’s remarks last night sent US bond yields soaring to 5 per cent. At 6:30 am, the Gift Nifty futures were around 100 points lower at 19,522 from Nifty futures’ last close.
Adding to worries of the ongoing conflict in Gaza, Fed Powell said inflation is too high and will need lower economic growth to bring it down, though he did not indicate more tightening ahead.
Yield on the 10-year treasury hit 5 per cent this morning, the first time since July 20, 2007 when it was 5.029 per cent.
In equities overnight, the Dow Jones fell 0.75 per cent, while the S&P 500 lost 0.85 per cent. The Nasdaq slipped nearly 1 per cent.
Asian stocks also dropped led by South Korea’s Kospi that dropped 2 per cent. Nikkei in Japan was down 0.9 per cent. In Australia, the S&P/ASX 200 lost 1 per cent.