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

The US stocks moved sharply lower during trading on Monday extending the notable pullback seen over the two previous sessions. With the steep drop on the day the Dow ended the session at its lowest closing level in well over two months. The Dow nosedived 3.6 percent to 27961 and the Nasdaq tumbled by 3.7 percent to 9221.

UK stocks fell sharply yesterday as Italy confirmed its fourth fatality from the COVID19 epidemic raising concerns about the impact of the outbreak on global growth. The benchmark FTSE100 dived by 3.2 per cent to 7164.

On domestic front Indian shares tumbled on Monday mirroring weak cues from other global markets as investors fretted about the spread of the deadly corona virus outside China. The benchmark BSE Sensex plummeted by 2 percent to 40363.

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