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US: U.S. stock indexes suffered their worst session of the year Tuesday, dragged down by a disappointing forecast from Home Depot and growing concerns that the Federal Reserve will keep interest rates higher for longer.

Asia: Asia-Pacific markets were lower on Wednesday as investors digested key economic data across the region.

India: Equity markets were extremely volatile on Tuesday as investors sold rallies at higher level. The S&P BSE Sensex ended at 60,673, down 19 points or 0.03 %, while the Nifty50 ended at 17,827, down 18 points or 0.1 %. Market is expected to open gap down and likely to witness negative during the day.

Global Economy: British employers offered the biggest annual pay rises in 32 years during the three months to the end of January, but these increases are still a long way behind doubledigit inflation, industry data showed on Wednesday.Human resources data company XpertHR said the median basic pay settlement in the three months to end of January jumped to 6% from 5% in the final quarter of 2022, their highest since September 1991. Australian wages grew at the fastest annual pace in a decade last quarter but that was still short of market forecasts and could lessen the pressure for further aggressive hikes in interest rates, sending the local dollar lower.Figures from the Australian Bureau of Statistics out on Wednesday showed its wage price index rose 0.8% in the December quarter from the previous quarter, under forecasts of a 1.0% increase.

Commodities: Gold prices hovered slightly above a six-week low on Wednesday with markets remaining cautious ahead of the minutes of the Federal Reserve’s February meeting, while some stronger-than-expected U.S. economic data further supported the dollar. Oil prices crept higher on Wednesday after sharp losses in the prior session as markets awaited more cues on U.S. interest rates and the path of monetary policy, while traders also questioned the outlook for a potential demand rebound this year.

Currency: The dollar and sterling were buoyant on Wednesday, after a surprise rebound in business activity in the United States and the UK raised the likelihood that their respective central banks would have further to go in raising interest rates.

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