Indian shares fell for the fourth session in a row on Wednesday and recorded their worst day in over three weeks after strong U.S. data fuelled worries about higher-for-longer interest rates.
Wall Street posted its worst one-day slump of the year on Tuesday after U.S. business activity returned to expansion for the first time in eight months in February, fuelling fears of continued high rates.
Those worries remain in focus ahead of the release, later in the day, of the minutes of the latest meetings of the U.S. Federal Reserve as well as the Reserve Bank of India. "The probability of impending rate hikes by the U.S. Fed has risen from two to three, in the light of new data," said Siddhartha Khemka, head of retail research at Motilal Oswal Financial Services.
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