Nasdaq Composite underperformed the major averages, ending down 1 percent as major tech names declined. European markets finished mixed. London's FTSE 100 slumped 1 percent, as several UK-listed miners slipped.
Tirthankar Patnaik of Mizuho Bank says the pain is much more global. But many of the stocks after a significant fall do look attractive and that makes one believe that it is a great buying opportunity, he says. But one must not forget that global issues, the genesis of this crisis, are still very much present, he told CNBC-TV18
Asian markets were broadly higher tracking the rally in European and US markets overnight, following European Central Bank President, Mario Draghi‘s hint at further stimulus.
The US market too ended higher with the technology sector leading broad gains amid some stabilisation in oil and commodity prices.
Asian stocks held on to losses early Monday, even as a private survey of China's mammoth manufacturing sector indicated factory activity fell for an eighth straight month in October, but at a slower pace
Adrian Mowat, JPMorgan's chief Asian and emerging market equity strategist, says in the near-term, China, Taiwan and Korea are likely to perform better than India
"For now, 8000 is a critical level for the index although base case is bearish with meaningful downside," Sunil Garg of JPMorgan said.