The Economic Times

US 10-year yield at 24-year high rattles Nifty, rupee and bond markets. Why is India hit hard?

The US 10-year Treasury yield surged to a 24-year high, triggering a global bond sell-off and pressuring Indian equities, bonds and the rupee. Higher US borrowing costs are raising concerns over FII outflows, currency weakness, imported inflation and RBI policy. Rising crude prices are adding to the pressure on Indian markets.