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Market Watch

Nifty IT Index Slips Over 3% Amid Fears of US Fed Rate Cut Pause

Mumbai, November 18, 2024: The Nifty Information Technology (IT) index surged by over 70 points in morning trade on Monday, before subsequently slipping into a bearish trend and falling approximately 3.1%, at 12:54 PM IST.

This marked the latest in a series of market swings following recent rate cut news from the US Federal Reserve. The speculation around whether the Fed will ease its interest-cutting pace later this week is proving to have an impact on global markets, affecting stocks such as those belonging to IT companies.

According to latest updates, some stocks lost substantial value after the market hours due to a decline in investor sentiment. As the Nifty IT index continued to fall at 12:54 IST, investors seemed nervous about upcoming US Fed decisions and anticipated its potential implications on overall economic growth.