The six-member Monetary Policy Committee (MPC) with a five-to-one majority increased the repo rate. Since May, RBI has hiked the repo rate by 225 basis points.
US markets closed mixed as weak June jobs data cooled rate hike fears. Nasdaq fell on tech and chip stock declines, while the Dow rose
Chip stocks experienced a significant downturn, with major AI rally leaders seeing sharp profit-taking after a record quarter. The VanEck Semiconductor ETF plunged over 5%,
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