Equity indices are sharply lower, technical on the S&P500 is looking precarious, yields were slightly higher, oil was up about 5 percent, dollar surged and fundamentally on the ground there seems to no sign of de-escalation as far as the Russia-Ukraine conflict is concerned.

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Trade setup for March 8: Will Nifty50 bounce back soon? From key market cues to technical signals, important levels to track

The market is expecting that the Federal Open Market Committee (FOMC) will raise rates by 22 basis points (bps) in its March meeting.

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

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First Published:Mar 8, 2022 9:00 AM IST