Nifty IT index logs 8th straight losing day, 4% drop
Business
The Nifty IT index just logged its eighth straight day in the red, falling another 1% on Sept. 9 and bringing its total drop to 4% over eight days.
Big names like HCLTech, Infosys, and Wipro are among the hardest hit.
The slide comes as investors keep an eye on Middle East tensions and wait for key US economic updates that could signal what's next for interest rates.
Fed hike odds jump to 70.3%
A possible US Fed rate hike is looking more likely: odds jumped from 57.6% last week to 70.3% now.
Rising oil prices (thanks to ongoing U.S.-Iran tensions) are adding pressure, making inflation harder to tame.
Plus, with important US data on jobs and consumer confidence coming up soon, markets everywhere are watching closely to see what happens next.