Global financial markets News

Stock Market Crash Updates: The Sensex was trading at 72,385.4, down 2,979 points or 3.95 per cent, while the Nifty dropped 976.1 points or 4.26 per cent to 21,928.3. 

Investors across financial markets, including in India, will look for fresh cues from the outcomes of the upcoming US monetary policy review meeting next week, particularly the extent of interest rate cut, if any. The US Federal Reserve's next meeting is scheduled for September 17-18, 2024. US Federal Reserve Chair Jerome Powell recently indicated that it was time for the US central bank to reduce interest rates as inflation rates aligned with its target.

Christine Lagarde, speaking at a conference on global business and social trends in Dubai, said economies were also supported by plenty of financing available.

US and European stocks rose sharply on Tuesday, making their first gains since Britain`s unexpected vote to quit the EU, while the pound rebounded as investors returned to jittery markets.

Government must put in place a contingency plan to fight off the volatility arising out of the referendum on 'Brexit' slated for Thursday as it is bound to unnerve the global financial markets, an industry body said Tuesday.

China`s securities regulator took the drastic step of banning shareholders with stakes of more than 5 percent from selling shares for the next six months in a bid to halt a plunge in stock prices that is starting to roil global financial markets.