Global markets sneeze; Sensex catches a cold, slumps 689 points

The rupee declined 0.7% to close at 70.17 compared to the previous day's close of 69.69

The domestic stock market fell sharply on Friday amid losses across global equities, after an increase in interest rates by the US Federal Reserve, despite a worsening economic outlook, hurt risk appetite.
 
The benchmark Sensex fell 689 points, or 1.9 per cent, to end at 35,742, and the Nifty 50 ended at 10,754, down 197.7 points, or 1.81 per cent. The biggest single-day fall in nearly two weeks erased all the gains made during the week.
 
The rupee declined 0.7 per cent to close at 70.17 compared to the previous day’s close of 69.69.
 
The already weak