17.12.21 | Markets slip over 1% as inflation fears return to haunt

Mint Evening Market Wrap

Markets were under pressure on Friday after a slew of central bank meetings highlighted the growing threat posed by a spike in global inflation, while fears about the omicron variant of covid-19 added to a cautious mood. The Fed was the centrepiece of a busy week for central bank policymakers, many of which took a more hawkish stance. The Bank of England surprised markets by becoming the first major global central bank to raise interest rates post-pandemic. The BSE Sensex ended at 57,011.74, down 889.40 points or 1.54%. The Nifty closed at 16,985.20, down 263.20 points or 1.53%.