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Stock market live updates: Benchmark indices Sensex and Nifty are eyeing a gap-down start on Wednesday as a hotter-than-expected US inflation data overnight spooked global markets.At 7:15 am, the Gift Nifty futures were trading 200 points lower at 21,634 levels versus Nifty futures last close of 21,824 on NSE.
US January CPI rose 0.3 per cent month-on-month and 3.1 per cent year-on-year versus expectations of a 0.2 per cent monthly increase and a 2.9 per cent annual gain.
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US stocks slumped with the Dow Jones and S&P 500 losing over 1.3 per cent each on Tuesday. Nasdaq fell 1.8 per cent.The 2-year treasury yield rose 17 basis points 4.64 per cent as the surprise CPI data spoiled bets of sooner rate cuts as was already done by Fed Chair Powell before.
Asian stocks also tracked losses this morning with Nikkei, Hang Seng, Kospi and ASX 200 declining 0.8-1.8 per cent.
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