Nifty’s Opening Cues Amid Bloodbath in Global Markets After US CPI Shock

 By Malvika Gurung — The listed on the Singapore-based Exchange SGX, an early indicator for , traded 1.55% or 280.5 points lower at 8:55 am on Wednesday amid a bloodbath in global markets, indicating a gap-down opening on Dalal Street.

Further, the gained 0.24% and climbed 0.25%.

The US August CPI data has taken the centre stage for the week and will release later on Tuesday, indicating cues on the duration and severity of the Fed’s tightening policy.

Major indices on Wall Street snapped their four-day rally streak and plummeted on Tuesday after a higher-than-expected inflation reading confirmed the Fed’s aggressive bets on raising the interest rates going ahead.

nosedived 5.16%, tanked 3.94% and fell steeply by 4.3%. The indices recorded their worst single-day drops since June 2020.

Stocks across Asian markets fell on Wednesday post a white-hot inflation reading in the US, fueling concerns of higher interest rates by the Fed for a longer time. The US dollar neared a 24-year high against the yen as US yields jumped on bets for an even aggressive monetary tightening by the Fed next week.

At 8:45 am, Japan’s Nikkei tanked 2.2%, South Korea’s Kospi fell 1.45%, China’s corrected 0.88%, Hong Kong’s plunged 2.6% and Australia’s ASX 200 plummeted 2.4%.

climbed to $93.2/barrel and WTI Futures rose to $87.4/barrel at the time of writing. 

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