In what turned out to be a Black Monday for Dalal Street investors due to global macro headwinds, the Sensex fell over 1,700 points today to an intraday low of 52,569.57. So far in 2022, the domestic headline equity index is down over 5,400 points.

While market experts disagree on whether we are in the midst of a bear market or a correction in a bull market that began in the aftermath of the Covid-led crash in March 2020, most experts believe that the weakness will persist ahead of the Fed meeting on Wednesday.

If the US inflation hitting a 40-year high of 8.6 per cent last week wasn’t enough, China has started to re-impose Covid-19 restrictions once again which sent investors in Asia running for cover.