The dip came after Christopher J Waller, governor of the Federal Reserve System, on Tuesday, suggested that there was less urgency for a rate cut. Investors were earlier expecting that the reduction in interest rate by the US Fed would start from March this year. (Representational image/ Express Photo By Ganesh Shirsekar)
Domestic equity indices fell sharply by over 1.7 per cent on Wednesday (January 17), after a US Federal Reserve official hinted that while the interest rate may be cut this year, the change in policy path needs to be calibrated and not rushed.
Domestically, concerns over the valuation of stocks and anticipation of correction in prices also weighed on the investors’ sentiments.
