Indian markets have failed to maintain their marginal recovery and are hovering near the opening lows of the day. As feared, Dalal Street had opened in the red after another global rout on intensifying fears about tighter US interest rates. The 30-share BSE Sensex was down 526.26 points or 1.53 percent at 33,886.90, and the 50-share NSE Nifty fell 177.50 points or 1.68 percent to 10,399.40 in opening trade. Tokyo, Hong Kong and Shanghai were among the worst-hit as they each plunged more than three percent, while investors piled into safe haven assets such as gold and the yen. The sell-off followed another battering for Wall Street, where the Dow suffered its second-heaviest daily points fall on record — the worst coming on Monday — after key US Treasury bond yields spiked fuelling the prospect of higher borrowing costs. After a blistering 2017 and January, markets worldwide have gone into a spasm in the past two weeks on fears that the booming global economy and rising inflation will lead to higher interest rates.
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