Worries about the US Federal Reserve warning on recession and lack of clarity about Indian government stimulus packages rattled investor sentiment on Thursday.
The BSE Sensex ended at 31,122.89, down 885.72 points or 2.77% while the 50-share Nifty index was at 9,142.75, down 240.80 points or 2.57%.
Markets in other parts of Asia including Japan, China, Hong Kong and Korea were down 1-2% each. World stock markets fell for a third day after a sobering warning from the World Health Organization that the covid-19 may never go away.
US Federal Reserve Chairman Jerome Powell quashed talk of US interest rates going negative to kickstart investment. Powell warned of a recession worse than any since World War Two while his suggestion that the Fed’s