Rising oil and 10-year Treasury yield weigh on US stocks
Business
US stock markets slid on Tuesday as rising oil prices and worries about higher interest rates spooked investors.
The Dow, S&P 500, and Nasdaq all dipped, while the US 10-year Treasury yield hit its highest point since 2007, making rate hikes look almost certain.
Indian Nifty drops to 5-month low
Indian stocks followed the global mood, with the Nifty dropping to a five-month low and midcap shares falling over 2%.
The rupee also weakened to 95.96 per dollar from 95.55 on Friday, marking its sharpest single-day decline in two months.
While foreign investors pulled out nearly ₹2,977.86 crore from Indian equities, domestic investors tried to cushion the blow by buying up shares, but it wasn't enough to stop the slide.