Markets have witnessed correction setting in, as the global cues have brought down the indices and induced selling in the markets.
Earlier, the US markets witnessed a major sell off. The NASDAQ index went down by 129.79 points or -3.1 % which is recorded as the highest daily percentage loss since November 2011. The S&P 500 index has seen a decline of 2% at 1,833. The Dow Jones saw a decline of 1.62%. US markets have witnessed heavy selling in the biotech names. The US biotech index has come down by 5.6%.
Indian markets have opened in the red, following weak global cues.
Sun Pharma has resumed its northward journey after correcting yesterday. The stock is up by another 2% in today’s trade.