Markets closed sharply lower on Thursday as hawkish commentary from US Federal Reserve Chair Jerome Powell sparked a selloff, with the Sensex falling 592.67 points or 0.70 per cent to settle at 84,404.46 and the Nifty 50 declining 176.05 points or 0.68 per cent to 25,877.85. The primary trigger was Powell's indication that there would be no definite commitment for a further rate cut in December, despite the Fed delivering an expected 25 basis point rate cut.

"The primary reason for the market's downturn was global uncertainty triggered by the US Federal Reserve's latest 25 basis point rate cut, accompanied by Fed Chair Jerome Powell's remarks indicating no definite commitment for a further cut in December," said Abhinav Tiwari, Research Analyst at Bonanza. The selling pressure was bro

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