INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Stock and commodity exchanges, currency as well as bond markets are closed on Thursday on account of Independence Day.
Asian
stocks dropped on Thursday morning as the main yield curve in US Treasurys inverted, triggering fears over the state of the US economy
MSCI Asia index (ex-Japan) fell 0.89 per cent overall, while Japan’s Nikkei 225 tanked 1.47 per cent in morning trade
Australia’s S-P/ASX 200 tumbled 2.29 per cent
Mainland China’s Shanghai composite shed 1.08 per cent while the Shenzhen component declined 1.27 per cent
Hong Kong’s Hang Seng index shed 0.73 per cent
South Korean markets are also closed for a holiday.
On Wall Street, the Dow Jones Industrial Average plunged 800.49 points in overnight
trade to close at 25,479.42 — marking its worst percentage drop of the year and fourth-largest point drop of all time
The S-P 500 fell 2.93 per cent to finish the trading day at 2,840.6, while the Nasdaq Composite closed 3.02 per cent lower at
7,773.94.
Tracking higher global markets, India's stock market indices Sensex and Nifty rebounded on Wednesday, with some buying emerging in
stocks that fell sharply in Tuesday's selloff
After rising over 500 points at day's high, the Sensex ended 353 points higher at 37,311 after US delayed tariffs on some Chinese imports,
bringing some relief to global markets rattled by a trade conflict
The broader Nifty ended nearly 1 per cent higher at 11,029
The rupee also rebounded to 70.85 against the dollar after slumping to six-month low on Tuesday though it later pared some gains.