Markets slip into red on fear of hawkish Fed, down 2.5% in two sessions

The benchmark indices posted their worst single-day fall in over two months as fears of the Federal Reserve's aggressive monetary policy and its impact on global growth resurfaced after a break-neck rally from this year’s lows in June.

Profit-booking after over 17 per cent gains in just two months added to this fall.

The Sensex ended the session at 58,774, down 872 points or 1.46 per cent — most since June 16, a day before the index hit this year’s low of 51,360. The Nifty50 index closed at 17,490, following a drop of 267 points or 1.5 per cent; only five of