Indian equity markets took a sharp turn downward on August 22, with benchmark indices taking a step back after a promising six-day streak. Nifty50 slipped below 24,900, closing at 24,870.10 a drop of nearly 215 points (0.85%) and the BSE Sensex lost about 700 points, ending at 81,306.85. Meanwhile, Reuters reported that key losses in IT and financial sectors triggered the pullback, with investors shaken by tempered hopes of a U.S. interest rate cut. 

At the core of market concerns were the looming U.S. tariffs on Indian goods and a cautious tone ahead of Fed Chair Jerome Powell’s speech at Jackson Hole. International investors pulled back, and profit-taking added further pressure. Thirteen of the 16 major Indian sectors registered losses during intraday trading. 

The mood on Dalal Street has shifted markets are now treading water, awaiting fresh clarity from global economic cues. As suspense grows, investors remain cautious, bracing for the next directional signals.