Stock Market Live: Global shares slide as Fed rate cut uncertainty looms | News on Markets

Stock market updates on April 05, 2024: Benchmark indices may start Friday’s trading session on a tepid note amid weak cues from global peers. The focus, however, will be on the RBI policy announcement at 10 AM.

At 07:30 am, Gift Nifty futures quoted around 22,557, suggesting a likely gap-down of around 70-odd points on the Nifty 50.

Overnight, the US market reversed course and ended with sharp losses as Fed officials cautioned on expecations of early rate cuts, and stressed that inflation needs to be closely watched. The focus now shifts on the job report due tonight.

The S&P 500, Dow Jones and Nasdaq dropped over 1 per cent each. Meanwhile, the US 10-year bond yield contiunued to hover around elevated levels of 4.30 per cent. Brent Crude Oil futures topped the $91 per barrel mark, and Gold futures dipped a wee but below $2,300 per ounce.

Nearer home, Nikkei tumbled over 2%. Taiwan and Kospi shed 0.7 per cent each.