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Indian markets may feel the pinch of Fed chief's hawkish comments: Experts

Last week, the Sensex and the Nifty shed over 1 per cent but were still up nearly 15 per cent from their June lows

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The Nifty had last closed at 17,559, while the Sensex finished last week at 58,834

Sundar Sethuraman Thiruvananthapuram
The Indian markets are likely to witness turbulence on Monday following US Federal Reserve Chairperson Jerome Powell’s signal that interest rates will stay high for some time. His statements diminished expectations of an economic soft-landing.

Spooked by the comments of Powell, the S&P 500 index in the US dropped 3.4 per cent on Friday. The Indian markets — which have moved in lockstep with American equities this year — may also fall over 2 per cent, fear experts.

In his speech in Jackson Hole, Wyoming, the Federal chair reiterated that another “unusually large” rate increase is on the cards in September, and

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First Published: Aug 29 2022 | 12:53 AM IST

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