The benchmark indices shed nearly 1.5% on Monday, mirroring global cues, as the hawkish commentary from the US Federal Reserve and other central bankers spooked investors. Global stocks fell, treasury yields climbed and global currencies lost ground against the dollar on Monday as the import of Friday’s speech by Fed chair Jerome Powell sunk in. Japan’s Nikkei 225, South Korea’s Kospi and Taiwan Weighted indices ended up to 2% lower. European Central Bank board member Isabel Schnabel joined the chorus of hawkish central bankers over the weekend emphasising the need to combat inflation even at the risk of tipping economies …
