Sensex ahead of Dow Jones by a wide margin amid rising bond yields

The Indian equity market is, however, a global outlier and remains firmly in the bull phase - both in local currency and in constant currency terms

The US benchmark Dow Jones slipped below its pre-pandemic high on Monday as investors continue to dump equities due to rising bond yields, but the Sensex is still 36 per cent higher than its January 2020 high.

The US equity benchmark closed at 29,260.81 on Monday — nearly 1 per cent down from its pre-pandemic closing high of 29,551.52 made on February 12, 2020.  With this, the Dow is now down 20.5 per cent from its post-pandemic high of 36,799.65 made in January this year. This potentially pushes the US equity market into bearish territory.

In the equity market, a