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Below is quote on Morning market 20 May  2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

"The excessive volatility in the market is broadly due to two reasons. One, the market has discounted severe monetary tightening by the Fed which is likely to take the Fed funds rate to around 3% in 2023. Two, the market has not fully discounted the probability of the US economy slipping into recession in 2023. Till there is clarity on the second issue, the 'risk-off, risk-on mode' in the market is likely to continue in the near-term. It may take a few weeks for the markets to stabilize.

It is important to appreciate the fact that the dominant feature of this market is bearish in the short-term. Nasdaq is 30% down from the peak and S&P 500 is 19%  down from the peak. These are reflections of weakness in the market.
In India, FIIs are likely to continue selling since India is the only emerging market where they are sitting on good profits and the market provides the liquidity to sell"

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