Stock market

Volatility may continue to wreck Indian equities, bank stocks in focus

  • US stock futures fell 2.0% after the S&P 500 gained 6.00% on Tuesday, paring a little under half of its huge losses on Monday
  • In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.1% while Japan's Nikkei gained 1.9%

Indian stock markets are likely to remain on Wednesday tracking mixed Asian peers. US stock futures stepped back in choppy early Asian trade today as concerns about the widening coronavirus (COVID-19) epidemic weighed against hopes policy support would combat its economic fallout.

US stock futures fell 2.0% after the S&P 500 gained 6.00% on Tuesday, paring a little under half of its huge losses on Monday. Tuesday’s lift in the S&P 500 came as policymakers around the world cobbled together packages to counter the severe restrictions on various economy-boosting activities aiming at slowing the spread of the virus.

The Donald Trump administration in the US on Tuesday unveiled a $1 trillion stimulus package that could deliver $1,000 cheques to Americans within two weeks to buttress an economy hit by coronavirus while many other governments look to fiscal stimulus.


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