The market is pricing in 38 basis points rate hike by US Federal Reserve in March, down from 45 basis points priced in last Friday. The pullback comes in amid the geopolitical tensions between Russia and Ukraine that seem to be escalating. The market believes the Fed would not continue its trajectory of rate hike if the tensions escalate further.

The US market closed in a comfortable space with the NASDAQ ending slightly in the positive region despite volatile trading during the session.

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The crude oil price continues to take support from Russia and Ukraine issues and touched USD 96.3 per barrel of a high and is holding around those levels.

Watch the accompanying video of CNBC-TV18’s Prashant Nair for more details.

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First Published:Feb 15, 2022 9:10 AM IST