Global markets experience sharp sell-off as Nasdaq hits March 2020 lows

Global markets experienced a sharp sell-off, with the U.S. Nasdaq index recording its most significant decline since the COVID-19 period.

Tech and chip manufacturing shares fell to their lowest levels since March 2020.

In Asian markets, the Korea KOSPI index hit a lower circuit, while benchmarks in Japan and Taiwan entered bear market territory.

Global investors moved capital into safe-haven assets, including U.S. debt, the Japanese Yen, and the Swiss Franc, amid recession concerns.

International crude oil prices showed a sharp decline over the weekend, while the Indian Rupee remained steady in currency markets.

Foreign Institutional Investors (FII) in India continued buying for five consecutive sessions, reaching their highest level of cash buying since February 2021.

Analysts suggest a technical pause may occur for the Nifty index, as its Relative Strength Index (RSI) reached a two-year high of 75 points.

This update applies to investors tracking global market trends and Indian equity performance.