Woeful week: Indices log worst weekly losses in nearly two months

Investors pull back from risky assets amid rising yields

The Indian markets tumbled for the fourth straight day on Friday, posting their worst weekly losses in nearly two months, as rising bond yields prompted investors to trim their exposure to risky assets.

A sharp fall in US stocks, which caused the tech-focussed Nasdaq Composite index to slip into correction territory, dampened investors’ mood with markets from Asia to Europe posting losses.

The Sensex on Friday declined 427 points, or 0.72 per cent — extending its four-day sell-off to 2,272 points, or 3.7 per cent. The 30-share index ended the week at 59,037, with a decline of 3.6 per cent — the