Before Market Opens: 9 things to know at 9 am on June 14, 2022

US equities tumbled on Monday, with the S&P 500 confirming it is in a bear market, as fears grow that the expected aggressive interest rate hikes by the Federal Reserve would push the economy into a recession. The S&P 500 lost 149.91 points, or 3.85 percent, to end at 3,750.95 points, while the Nasdaq Composite lost 526.82 points, or 4.65 percent, to 10,813.20. The Dow Jones Industrial Average fell 857.70 points, or 2.73 percent, to 30,535.09.

Asian shares tumbled on Tuesday after Wall Street hit a confirmed bear market milestone and bond yields struck a two-decade high on fears aggressive US interest rate hikes would push the world's largest economy into recession. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.9 percent. Australian shares S&P/ASX200 sank 5 percent in early trade, while Japan's Nikkei stock index was down 1.74 percent.

Indian equity benchmarks closed at 11-month lows on Monday amid a global sell-off triggered by fears that a fresh 40-year peak in US inflation will prompt an already-hawkish Fed to hike pandemic-era interest rates more aggressively. The Sensex fell 1,456.7 points or 2.7 percent to end at 52,846.7 and the Nifty50 settled at 15,774.4, down 427.4 points or 2.6 percent from its previous close.

At 8:20 am, the SGX Nifty was trading 95 points or 0.6 percent lower at 15,694 indicating a weak opening for the Indian markets.

Oil prices seesawed in positive and negative territory on Tuesday, holding up despite recession fears and potential new COVID-19 curbs in China that could dampen demand as the market remains tightly supplied. US West Texas Intermediate (WTI) crude eased 4 cents to $120.89 a barrel at 0156 GMT, while Brent crude futures dipped 6 cents to $122.21 a barrel.

India's headline retail inflation rate eased to 7.04 percent in May from April's near-eight-year high of 7.79 percent thanks to a favourable base effect, according to data released on June 13 by the Ministry of Statistics and Programme Implementation. The latest inflation print is along with consensus estimates.

The rupee hit a fresh all-time low on Monday amid dollar gaining strength. The currency depreciated by 11 paise to close at a record low of 78.04.

After witnessing fall on Monday, Spot gold was again down by 0.2 percent at $1,826.5 per ounce, as of 7.10 am on Tuesday.

Foreign institutional investors (FIIs) have net sold ₹4,164.01 crore worth of shares, whereas domestic institutional investors (DIIs) remained net buyers, to the tune of ₹2,814.50 crore worth of shares on June 13, as per provisional data available on the NSE.