India’s election results will also be watched as the ruling BJP party lost its majority, although the wider BJP-led coalition has secured a majority
Asia-Pacific markets are largely set to fall as investors assess India's election results after Prime Minister Narendra Modi's Bharatiya Janata PartyElsewhere, first-quarter gross domestic product figures are expected out of Australia.is set to fall, with the futures contract in Chicago at 38,490 and its counterpart in Osaka at 38,440 against the index's last close of 38,837.46.
Tuesday's moves, albeit muted, should raise some concern for investors, according to Rosenberg Research founder David Rosenberg. The S&P 500 traded 0.2% lower Tuesday afternoon, while the benchmark 10-year Treasury yield slid 7 basis points to 4.3%.The market does not need rate cuts to rally, according to Deutsche Bank's Binky Chadha.
Overall, equities and tech stocks both logged their largest outflows since last July, analyst Jill Carey Hall wrote in a note Tuesday. It was the fourth-largest outflow for overall equities in Bank of America's history since 2008. Tech stocks saw their second-largest outflow since 2008.
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