Nifty IT Index Plunges Over 3% Amid Anticipation of Slower US Fed Rate Cuts

Mumbai, November 18, 2024 - The stock market is experiencing sharp swings today as investors anticipate the upcoming rate decision by the US Federal Reserve. The Nifty IT index has slipped a significant 3% on the expectation that the US Fed will slow its pace of rate cuts, taking into account recent economic data.

The Indian economy witnessed a mixed response to the latest inflation data, which hinted at a gradual slowdown in growth pace. Investors are cautiously watching for any signs of relief from the central bank's next decision, which is likely to be announced later today.

As tensions rise globally due to ongoing conflicts and geopolitical uncertainty, markets worldwide have started experiencing significant price swings.

Mint will continue to provide live updates on market movements as the US Fed rate decision impact unfolding. Stay tuned with us for real-time news, trends analysis, and insights into Dalal Street.