Indian markets are expected to open in the red tracking the SGX Nifty and mixed Asian cues.
US markets closed in the red led by ongoing uncertainty about the outlook for U.S. monetary policy. Weakness in the European markets also weighed on U.S. stocks with the major averages in the region all pulling back sharply.
European markets finished in the red as auto stocks came under severe pressure after Volkswagen admitted to manipulating emission tests norms for diesel cars in the United States. Drug companies were also down on the news that Hillary Clinton will unveil a plan to take on check pricing in the specialty drug market. Mining and resource companies were also weak due to falling commodity prices.
Indian markets tumbled in the second half led by negative cues from European markets and U.S. index futures. Increased volatility ahead of the expiry of September series FO contracts also prompted investors to book some profits at higher levels.

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