{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Shares drop sharply over growing worries about a global recession' data-url='/boclips/videos/5c54be27d8eafeecae1397da' data-video-url='/boclips/videos/5c54be27d8eafeecae1397da' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nShares drop sharply over growing worries about a global recession\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003e1. Set-up of Alok Kumar Agarwal, Head of research at K. R Choksey shares and securities 2. SOUNDBITE: (English) Alok Kumar Agarwal, Head of research, K. R Choksey shares and securities:\"I would say absolute mayhem in the market is...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003e1. Set-up of Alok Kumar Agarwal, Head of research at K. R Choksey shares and securities \u003cbr/\u003e2. SOUNDBITE: (English) Alok Kumar Agarwal, Head of research, K. R Choksey shares and securities:\u003cbr/\u003e\"I would say absolute mayhem in the market is continuing, and we saw that the markets opened up at around seven percent, quickly went into almost nine and half percent direct rate, close to the circuit level, and then suddenly the reserve bank announced the rate cuts. All over the world majority of the central banks are announcing the rate cuts, and although we have the question of high CRR (Cash Reserve Ratio)  today, today it has been cut by 150 basis points, this will inject about 60 thousand crores (INR) into the system, apart from the 50 basis points which was announced few days ago, which will inject another 20 thousand crores (INR). Although we have this question of high CRR, and higher interest rate to cut, but the main problem is that we have the fiscal deficit and the current account deficit and high inflation, so other banks and other economies of the world, they do not have this problem of high inflation, their inflation is within control, so their cutting the rates makes sense, economic sense as well, but here although the rates are high, we can cut them, but the problem with the RBI (Reserve Bank of India) would be to monitor the inflation, if that springs some kind of negative surprise, that should be a big problem for the RBI.\" \u003cbr/\u003e3. Various of traders\u003cbr/\u003e4. Close-up of television screen\u003cbr/\u003eIndian shares dropped sharply on opening on Friday over growing worries about a global recession.\u003cbr/\u003eIn early trading, the Bombay Stock Exchange's benchmark 30-stock Sensex plunged 642 points, or 5.7 percent, to 10,686 points.\u003cbr/\u003eOn the broader National Stock Exchange, the 50-company S\u0026amp;P Nifty index has declined 5.1 percent to 3,332.5 points.\u003cbr/\u003eThe Sensex dropped 1,088 points seconds after opening to a low of 10,239.8 points tracking a sell-off on Wall Street that sparked off a dive in Asian stocks.\u003cbr/\u003eIndia's central bank decided on Friday to cut the cash reserve ratio by 1.5 percentage points instead of 0.5 percentage points, as had been previously announced, in a bid to boost liquidity.\u003cbr/\u003eThe surprise move, effective October 11, will reduce the cash reserve ratio, the amount of money banks must keep on hand, to 7.5 percent from 9 percent, releasing 600 (b)billion rupees (12.8 (b)billion US dollars) into the financial system, the Reserve Bank of India said.\u003cbr/\u003eThe central bank initially cut the cash reserve ratio by 50 basis points to 8.5 percent four days ago in a policy reversal of months of monetary tightening to curb inflation.\u003cbr/\u003eBanks were the biggest losers with ICICI Bank off 12.5 percent, followed by HDFC Bank down 9 percent and State Bank of India down 6 percent.\u003cbr/\u003eAlok Kumar Agarwal, Head of research at K. R Choksey shares and securities said it was \"absolute mayhem\" in the markets.  \u003cbr/\u003eHe said that central banks all over the world were announcing the rate cuts.\u003cbr/\u003eFor months, India's central bank has focused on tightening money supply, to fight double-digit inflation. \u003cbr/\u003eThe bank first reversed on October 6, when it announced the 0.5 percentage point cut.\u003cbr/\u003eMeanwhile the massive sell-off on Wall Street and an escalating global equity crisis also sent other Asian stocks plunging on Friday, with Japan's benchmark Nikkei 225 index tumbling more than 10 percent.\u003cbr/\u003eHong Kong's Hang Seng index tumbled more than 8 percent, South Korea's Kospi shed 7.4 percent, Shanghai's benchmark fell 4.1 percent, and Singapore's Straits Times index was off 7.0 percent.\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more 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