Nifty, Sensex Fall Nearly 2% as Virus Cases Surge, Overtaking the UK
Indian shares fell nearly 2% on Friday as coronavirus cases in the country surpassed the UK, adding fuel to a global sell-off in riskier assets over fears that a resurgence of infections could impact economic recovery.
While India has followed moves in many economies to ease its previously stringent lockdowns, the number of daily cases has neared 10,000 this week, driving the total number to 297,535 on Friday. It is now the fourth worst affected country in the world.
The three major US stock indexes fell more than 5%, posting their worst day since mid-March, when markets were sent into freefall by the abrupt economic lockdowns put in place to contain the pandemic. Read more…..
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