No let-up in market sell-off as recession fears build for world economies

Stocks tumbled once again on Wednesday as concerns over uncertain economic outlook kept investors on tenterhooks. Brushing aside a sharp rally in the US equities overnight, most Asian markets opened lower with stocks failing to consolidate gains made a day earlier.

Experts said risk aversion among investors is due to scepticism over whether policymakers will be able to achieve aggressive monetary tightening to tame inflation without triggering recession.

The Sensex declined 709 points, or 1.35 per cent, to end the session at 51,822.

The Nifty 50 ended the session at 15,413 - a drop of 225 points, or 1.4 per