Equities fall as U.S. bond yields rise on Fed stance
The Hindu
Indian equity benchmarks dropped by more than 1% for the second straight session on Thursday on concern that rising U.S. bond yields in the wake of the Federal Reserve’s dovish policy stance could herald foreign fund outflows.
Amid widespread selling pressure, the S&P BSE Sensex slumped 585 points, or 1.17%, to close at 49,217. The NSE Nifty 50 index slid 163 points, or 1.11%, to 14,558. Both the indices fell for the fifth consecutive session. Analysts said the rising U.S. bond yields could spur an outflow of funds.
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