Asian markets were mixed after U.S. stocks slid amid concern that the Federal Reserve and its peers around the world would push economies into recession. Benchmarks in Hong Kong and Australia gained, while Japanese shares slid. U.S. equity futures inched higher.

On Monday, the Nasdaq 100 dropped 1.4%, sliding for a second day after suffering its worst week since March. The technology sector led declines on Wall Street, as AI-favourite Nvidia Corp. and Facebook-parent company Meta Platforms Inc. dipped. Tesla Inc. slumped more than 6% after Goldman Sachs Group Inc. joined the list of brokers turning less bullish on the electric-vehicle maker.

Brent crude rose to $74 a barrel, and West Texas Intermediate was trading around the $69 mark. The yield on the 10-year U.S. bond was trading at 3.73%, whereas Bitcoin was above the $30,000 level.

At 8:25 a.m., the Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, was up 0.15% at 18,731.5.

Back home, Indian benchmark indices swung between gains and losses before closing mixed. The S&P BSE Sensex closed 9 points down, or 0.01%, at 62,970, whereas the NSE Nifty 50 ended 26 points higher, or 0.14%, at 18,691.20. The Indian rupee closed flat at 82.04 against the U.S. dollar. Healthcare and pharmaceutical sectors advanced, while banking shares were under pressure.

Overseas investors in Indian equities remained net sellers for the third day in a row on Monday. Foreign portfolio investors offloaded stocks worth Rs 409.4 crore, according to data from the National Stock Exchange. Domestic institutional investors turned net buyers and mopped up equities worth Rs 250.1 crore, the NSE data showed. Foreign institutions have net bought Rs 30,863 crore worth of equities in June and Rs 60,122 crore worth of Indian equities so far in 2023, according to the National Securities Depository Ltd.