There has been a significant sell off overnight as far as global equity markets are concerned.

Day before yesterday, post equity market closing, rating agency Fitch downgraded its rating on the US market. Equity markets across the globe saw a risk of sell off and this is also weighing in on the market sentiment today morning.

On Wednesday, Dow Jones was down almost 1 percent, while S&P 500 was down 1.4 percnet. And Nasdaq was facing the brunt of the selling pressure, with it ending down over 2 percent in yesterday's trading session.

European markets too closed 1.4 percent to 1.8 percent lower as the sell off widened to Europe as well.

Crude oil prices until Wednesday were trading near three-month highs. However, in yesterday's trading session, they witnessed a bit of a sell off. Brent futures fell over 2 percent to $83 a barrel, WTI future is now below the $80 a barrel mark.

Indian markets too witnessed selling pressure on Wednesday, ending the session lower. Most of the indexes were down more than a percent. However,t he only respite was that in the last hour of trading, there was a brief bounce coming in the equity markets.

Today, there are a lot of important tools to keep track of. Morgan Stanley has upgraded its rating on India to 'overweight'.

Asian markets are indicating a gash and even the GIFT Nifty is indicating a gap down start.

Tune in to Marketbuzz Podcast for more cues ahead of today’s trading session

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