Sensex Drops 1,500 Points, Nifty Set For Steepest Fall In Over Four Years:

Indian equities extended declines to trade at day’s low. The S&P BSE Sensex fell 3.8 percent or 1,500 points to 38,342 and the NSE Nifty 50 fell 3.57 percent to 11,216.80. The 50-stock index is set for its worst drop since August 2016. The indices were tracking the negative cues from the global peers amid fears about the coronavirus. Global shares are on course for the worst week since the 2008

Global Markets Update: 

Stock Rout Deepens Fear tightened its grip on global markets Friday, with stocks across Europe and Asia plunging a day after the worst rout on Wall Street since 2011. The Stoxx Europe 600 Index sank 4.2 percent as of 9:24 a.m. London time. Futures on the S&P 500 Index dipped 2.1 percent. Nasdaq 100 Index futures declined 2.3 percent. South Korea’s Kospi index decreased by 3.
Stocks Moving On Heavy Volumes Adani Gas Stock fell as much as 14.9 percent to Rs 125.30. Trading volume was more than 20 times its 20-day average. IIFL Wealth Stock fell as much as 4.6 percent to Rs 1,442. Trading volume was almost 30 times its 20-day average. Sundaram-Clayton Stock rose as much as 2 percent to Rs 2,035.75 Trading volume was five times its 20-day average. Future Consumer Stock.
Stocks ended higher even though the bond market, for the second time in a week, flashed a recession warning sign toward the end of the trading day.
The 2-year and the 10-year Treasury yields briefly inverted, meaning the shorter-dated bond yielded more than the longer-dated one.
Stocks hung on to their gains after the release of minutes from the Federal Reserve’s July meeting showed that the central bank wants to preserve its options on setting interest rate policy. Still, a September rate cut is priced in at nearly 100%, according to the CME FedWatch tool.