Indian Stock Market Crash Sends the Memes Soaring on Twitter
News 18The domestic markets had a tumultuous start on Wednesday, with higher-than-expected inflation report in the US. Frontline indices Nifty50 declined over 150 points to trade below 17,900 levels, whereas the S&P BSE Sensex slumped over 700 points to trade at 59,867 levels. Broader markets, too, traded feebly as Nifty Smallcap 100 and Nifty Midcap 100 slipped over 1 per cent. VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said: “The 4.32 per cent and 5.12 per cent cut in S&P 500 and Nasdaq on Tuesday reminds us that there is more uncertainty about inflation and growth and more volatility ahead for markets. Now the market fears that inflation is getting entrenched and an ultra-hawkish Fed might trigger a hard landing for the US economy.” “The ‘buy on dips’ strategy has been working very well in India for more than a month now.