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

The US stocks moved sharply lower over the course of the trading day on Monday. With the steep drop on the day the major averages tumble to their lowest closing levels in two months. The Dow plunged 2.9 percent to 25717and the Nasdaq plummeted 3.5 percent to 7726.

U.K. stocks were deep in the red on Monday joining a global selloff as simmering trade tensions between the U.S. and China spurred fears that a deepening trade war will depress demand. The FTSE 100 was down by 2.1% to 7258.

On domestic front Indian shares ended deep in the red on Monday and the rupee suffered its biggest singleday fall against the dollar in eight months as rising tension in Kashmir coupled with weak global cues on the back of worries about an escalating trade conflicting between the U.S. and China led to a broadbased selloff. The benchmark BSE Sensex was down by 1.2% to 36699.

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