Rising covid in China, hawkish fed statements, disappointing TCS earnings - the markets face a sea of disappointing news. Here are the latest news headlines that are affecting the markets:
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The U.S. State Department ordered the departure of non-emergency American government employees and all family members from the Shanghai district due to a surge in Covid-19 cases. Vast majority of the city’s 25 million residents still subject to tight movement restrictions which keep them in their homes or compounds.
Everything from stocks and bonds is falling again. The S&P 500 fell 1.7% on Monday, while the Nasdaq 100 declined 2.4%, bringing losses for the tech index to over $1 trillion in the past five sessions.
Consumer price inflation to be released for the month of March today, economists see food price rise hitting a 16-month high as CPI is seen escalating to 6.3%. This would mark the third month of inflation over 6% - the RBI's tolerance zone.
High attrition continues to hit tech companies with Asia's largest outsourced software provider reported a 17% rate of attrition in the Jan-March quarter. This signals a higher rate of employees leaving as demand for tech skills remains at an all-time high.
The National Stock Exchange (NSE) said on Monday said it is reintroducing the 'Do not Exercise' facility in stock options from April 28. The move is aimed at preventing mishaps during expiry of equity derivatives contracts in situations where traders are unable to meet their settlement obligations connected to physical delivery. This system has been brought back after being discontinued in October.