Budget 2018: Staring at a full-scale bear market

The dip on Wall Street is very likely to lead to poor sentiment elsewhere in the world including on Dalal Street

The market’s response to the last full Budget of this government was negative. The bond markets saw yields spiking on Thursday as Mr Jaitley made his speech. The stock market fell sharply on Friday after being shored up on Thursday. The Budget more or less coincided with a sharp sell-off in America, which could add another element of stress for investors. 

The 10-year US Treasury bond is the most popular global benchmark for the health of the world’s debt and forex markets. Similarly, the US stock market indices, such as the Dow Jones Industrial Averages (DJIA), are global benchmarks for the