U.S. Stocks fell on Friday - Nirmal Bang

U.S. stocks fell on Friday, following the largest one-day drop in almost two months a day earlier, as retailers took a beating after reporting lackluster earnings and high-dividend names were hurt by rising interest rates.

Asian stocks fell for a third day, with the regional benchmark gauge trading at the lowest level in a week, amid low trading volumes in Japan and as a rising yen weakened the earnings outlook for exporters.

Sensex cracked after a weak start and plunged as jittery investors turned sellers on concerns over the depreciating rupee and tapering of the monetary stimulus by US Fed Reserve. The rupee fell to an all-time low of 62 per dollar before paring some losses allegedly on the RBI's intervention. RBI's restrictions over forex spending by individuals and also on overseas investments by companies hurt market sentiment. Market is expected to open on a lower note and remain under pressure during the day.

Source : Equity Bulls

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