The Indian Nifty may open in the red on Friday in line with indicator SGX Nifty, which was trading down 21.00 points at 7161.00 at 7:39 AM.
Most Asian markets were also trading lower with Japan’s Nikkei leading with 2 percent fall.
Among other global markets, the Wall Street ended lower snapping a three-day winning streak after oil prices pulled back. Nasdaq Composite underperformed the major averages, ending down 1 percent as major tech names declined. Apple lost 1.9 percent and Netflix fell 4.5 percent.
European markets finished mixed. London's FTSE 100 slumped 1 percent, as several UK-listed miners slipped. Ukraine and Russia gained 2 percent, while Italy and Spain were down 1.5 percent each.
In currency markets, the yen held firm, led by a renewed demand for the safe-haven Japanese currency as Wall Street tripped.
Among other asset classes, crude prices slipped after data showed rise in US crude inventories which overshadowed production freeze plans by oil major producers. The US government’s energy information administration (EIA) said crude stockpiles rose 2.1 million barrels last week.
Gold prices rose just over 2 percent overnight, reversing earlier losses as US equities resumed their downward spiral.
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