Markets in 'deep hole' as growth fears escalate; Sensex falls 1,115 points

FIIs pull out Rs 8,000 crore in 4 sessions

The BSE Sensex posted its biggest single-day fall in four months after investor sentiment turned sour on the Federal Reserve’s dire assessment of the US economy and rising Covid-19 infections forcing many countries to re-enforce restrictions.

The Sensex plunged 1,115 points, or 3 per cent, to end at 36,554, its lowest close since July 10 and the biggest drop since May 18.

The Nifty fell 326 points, or 3 per cent, to end the session at 10,805.

US Federal Reserve Vice-Chair Richard Clarida said on Wednesday the US economy remained in a “deep hole” of joblessness and weak demand and called for more