Nifty IT index slips over 3% as US Fed likely to lower pace of rate cuts
Indian IT stocks, which had weathered the recent sell-off driven by the strong rise in the US dollar, came under significant selling pressure on Monday, November 18 as traders scaled back expectations of Federal Reserve interest rate cuts following fresh indications of US economic resilience. At 12:30 p.m., the Nifty IT index was down 2.64%