Dovish Fed fails to lift Indian markets; oil prices hit seven-week high

Trade war fears, higher oil prices weigh on investor sentiment

The US Federal Reserve providing a dovish guidance and maintaining the pace of interest rate hikes at three for the year failed to cheer the Street on Thursday.
 
The US central bank raised interest rates by 25 basis points on Wednesday and forecasted two more hikes for 2018, even as some investors feared the Fed to project three more rate hikes.
 
Despite the stance being less hawkish than anticipated, it failed to lift the mood due to renewed worries of a global trade war. A jump in crude oil prices to a seven-week high after a drop in