US markets US stock markets plunged on Wednesday after inflation data came in higher than expected, raising concerns that the Federal Reserve may keep interest rates elevated for longer. Technical View Until the previous low of 22,786 is broken decisively, the chances are high that Nifty might recover towards 23,500–23,600 in the near term. Immediate resistance is placed at 23,200, while immediate support is at 23,000. Market Update The Indian market closed lower for the sixth straight session on Wednesday even as it rebounded sharply from intraday lows, as gains in heavyweight financial stocks helped counter worries over U.S. tariffs and disappointing earnings.