Here is what experts have to say about current turmoil in global markets

Asian share markets sank in a sea of red on October 11 after Wall Street suffered its worst drubbing in eight months, a conflagration of wealth that could threaten business confidence and investment across the globe. Sharp cuts were seen across European markets as well.

Dalal Street too succumbed to selling pressure hitting its lowest level in six months. The Sensex shed over 750 points and the Nifty sank below 10,300 losing over 2 percent.

Rupee turns positive after hitting a fresh record low of 74.48 in early trade. As earnings season kicks off, IT stocks take a hit despite the rupee tailwind.

Crude oil prices slide as equities slide across the globe and US crude inventories rise more than expected. Brent crude slips below $82 per barrel.

To discuss all that transpired and the outlook for markets, CNBC-TV18 caught up with Vetri Subramanian, group president, UTI Asset Management Company, Jameel Ahmad, global head of market research, Forex-Time and  Mitessh Thakkar, technical expert

The US Treasury yields will continue to gradually move higher, said Ahmad, adding that however,  it is not the only individual catalyst behind the sudden market sell-off.

There are few different catalysts that can be articulated like the warning from the international monetary fund (IMF), the interest rate optimism from US Fed, US President Donald Trump's outspoken comments regarding the US Federal Reserve and ongoing external uncertainties, Ahmad added.

“So it is difficult to say what is the individual driver behind this move in the global markets,” he said.

One should not read too much of one-day moves in the market, Vetri said.

When asked if we are in the bear market, Vetri said the only prism through which you can look at equities is through the prism of valuations and the valuations were expensive for an extended period of time but a confluence of factors has now caused the correction in valuations.

On the earnings front, Vetri said there are challenges to earnings due to recent events in the financial system, which exposes some of the fragilities.

"Today’s sell-off was clearly led by heavy declines in the US markets," said Thakkar.

However, in the last few weeks the markets have been in some kind of a downtrend, Wednesday was a countertrend bounce back which possibly could head up to levels of 10,550 or thereabouts, he said.

It will be very difficult for the markets to get past those levels in the short term, he added.