Nifty 50 index: SGX Nifty suggests a little higher opening

• Asian equities are mixed on Wednesday, following overnight losses on Wall Street, where the S&P 500 plunged deeper into the bear market territory.
• Fears of a US recession loomed large ahead of the US Fed’s policy decision on Wednesday

Nifty 50 index futures trading on the Singapore stock exchange suggest that the Nifty could increase 8 points at the opening bell.

Global markets:

Overseas, Asian equities are mixed on Wednesday, following overnight losses on Wall Street, where the S&P 500 plunged deeper into the bear market territory.

Read More: Jim Cramer warns traders not to invest in digitization stocks: Recession ‘CPI’

China’s industrial output increased 0.7 percent year on year in May, according to government figures released Wednesday, following a 2.9 percent decrease in April. Meanwhile, retail sales declined 6.7 percent year on year in May.

Stock indices in the United States were mixed on Tuesday, as investors feared that rising inflation will compel the Federal Reserve to raise interest rates more aggressively. The S&P 500 fell 0.38 percent to 3,735.48. Dow Jones Industrial Average fell 151.91 points, or 0.5 percent, to 30,364.83. The Nasdaq Composite finished 0.18 percent higher at 10,828.35. Nifty 50 index

Read More: Jim Cramer: Fear market that steady rise in oil prices will lead to a recession

Fears of a US recession loomed large ahead of the US Fed’s policy decision on Wednesday. According to a prominent overseas brokerage, the Fed’s June policy meeting on Wednesday will result in a 75-basis-point (bp) interest rate hike. A 75-bp increase would be the most since 1994, according to reports.