Indian equity benchmarks may trade lower on Wednesday, pausing a two straight sessions of gains as investors braced for another aggressive interest rate hike from the US Federal Reserve.
Asian markets were lower today as investors braced for a US rate hike next week amid concerns of a global recession after warnings from the World Bank and the International Monetary Fund (IMF).
Overnight, Wall Street recorded a sell-off that knocked 1.13 per cent off the S&P 500.
The Federal Reserve is set to announce its decision at the end of a two-day policy meeting later in the day. Rate futures traders are pricing in an 81 per cent chance of a 75-basis points (bps) hike and a 19 per cent probability of a jumbo 100 bps increase.
The Fed headlines a week in which more than a dozen central banks announce policy decisions, including the Bank of Japan and Bank of England on Thursday.
Here are the share market live updates: