The S&P 500 down 0.38% for the fourth day in a consecutive, while the GIFT Nifty was down

The S&P 500 down 0.38% for the fourth day in a consecutive, while the GIFT Nifty was down

Because it was "Shri Ram Navmi," the Indian indexes stayed closed on April 17.

On April 17, the US markets fell for a fourth day in a row in spite of positive corporate results. The Nasdaq Composite dropped 0.67 percent to 15,770.01 and the S&P 500 sank 0.38 percent to 5,032.03 at 9:15 p.m. IST. At 37,688.48, the Dow Jones Industrial Average had a 0.29 percent decrease as well.

Chairman of the US Federal Reserve Jerome Powell said on Tuesday that the US central bank would not start lowering rates until it sees more progress on the front of inflation. This statement hinted to a delay in the rate reductions.

Moreover, the GIFT Nifty had negative trading, falling 0.20 percent to 22,109.50.

European markets gained ground after dropping the day before. At 7,847.99, the FTSE saw a 0.35 percent increase, while the CAC had a 0.62 percent increase at 7,981.51. At 17,770.02, the DAX likewise saw flat-to-positive trading.

Weak global signals earlier in the day contributed to the Asian markets' downward trend. The Nikkei dropped 1.32 percent to 37,961.80, below the 38,000 barrier. On the other hand, the Hang Seng closed at 16,251.84, flat to positive.

Because it was "Shri Ram Navmi," the Indian indexes stayed closed on April 17.

Due to increased US commercial inventories, crude fell on Wednesday. WTI Crude fell 1.57 percent to 84.02, while Brent saw a 1.63 percent decrease to 88.55.