Indian markets are likely to open negative tracking global indices and SGX Nifty.

U.S. stocks considerable weakness during the trading session on Thursday extending the pullback seen in afternoon trading on Wednesday. With the drop on the day the Dow gave back ground after ending yesterdays trading at a record closing high. The Dow tumbled 0.8 percent to 26627 while the Nasdaq plunged 1.8 percent to 7879.

UK stocks fell sharply on Thursday after upbeat U.S. data lifted U.S. Treasury yields to levels not seen since 2011. The FTSE 100 was down by 0.9 percent at 7445.

On domestic front Indian stocks went into a free fall Thursday with key benchmark indexes falling over 2 percent as a slew of factors such as a surge in U.S. bond yields rising oil prices and continued weakness in rupee sent investors fleeing equity markets. The BSE Sensex was down by 2.2% to 35169.

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