New Delhi: Indian markets suffered one of their steepest declines today, reflecting the global selloff amid slowdown fears in America. Both the Nifty and Sensex saw significant losses during early trading hours. The Sensex dropped 1,533.11 points to 79,448.84, while the Nifty fell 463.50 points to 24,254.20.
On Friday, the benchmark indexes Nifty 50 and S&P BSE Sensex ended their longest weekly winning streak in over 14 years. This downturn was driven by a slump in information technology stocks, triggered by weaker-than-expected U.S. economic data, which ignited a global market selloff.
U.S. job growth in July slowed more than anticipated
The data released after market hours on Friday revealed that U.S. job growth in July slowed more than anticipated, raising concerns about a potential economic slowdown and impacting global equities.
Additionally, global investors are closely monitoring the escalating tensions in the Middle East. The situation intensified following the assassination of Hamas leader Ismail Haniyeh in Tehran, allegedly by Israel.
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