Indian shares are seen opening lower on Wednesday as investors remain concerned about rising cases of coronavirus worldwide and growing tensions between the U.S. and China.
According to a Bloomberg report, the U.S. Securities and Exchange Commission is pushing ahead with a plan that threatens to kick Chinese companies off U.S. stock exchanges.
Benchmark indexes Sensex and the Nifty rose about 0.7 percent on Tuesday to hit record highs, while the rupee settled 16 paise higher at 74.46 against the U.S. dollar.
Asian markets are trading mixed this morning as Federal Reserve Chair Jerome Powell cautioned the U.S. economy still has a "long way to go" before it fully recovers from the coronavirus pandemic.
On the stimulus front, neither U.S. Senate Majority Leader Mitch McConnell nor House Speaker Nancy Pelosi have budged from their positions on pandemic relief despite increasing concerns about businesses failing and workers falling into poverty in the absence of federal help.
Gold ticked higher while oil prices fell after a bigger-than-expected build in U.S. crude stockpiles. The British pound held gains as traders hoped for a Brexit trade deal breakthrough as early next week.
U.S. stocks fell overnight as retail sales data disappointed and more states imposed restrictions to tamp down an unrelenting surge in Covid-19 cases.
The S&P 500 slid half a percent and the Dow Jones Industrial Average shed 0.6 percent after closing at record highs in the previous session. The tech-heavy Nasdaq Composite eased 0.2 percent.
European stocks came off from multi-month highs on Tuesday as tighter coronavirus-driven restrictions across the continent overshadowed more positive news related to coronavirus vaccines.
The pan European Stoxx 600 slipped 0.2 percent. The German DAX finished marginally lower and the U.K.'s FTSE 100 gave up 0.9 percent amid a broadly stronger pound, while France's CAC 40 index edged up 0.2 percent.
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