The prospects of a faster-than-expected rate hike by the US Federal Reserve (US Fed) coupled with rising inflation that hit a four-decade high of 8.5 per cent in March 2022 in the US amid the ongoing Russia – Ukraine war have cast their shadow on global equity markets. In the last six months, the frontline indices – the S&P BSE Sensex and the Nifty 50 – have dropped around 5 per cent each mostly owing to these two developments.
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