Tracking the pessimistic global cues, Indian benchmark indices are set for gap-down opening. It was a bloodbath for investors across all the markets in Asia, as US stocks nosedived in overnight trade after red hot inflation data, spooking the traders. Back home, the initial public offering of Harsha Engineers will kick off for subscription today. Here's breaking down the pre-market actions:

STATE OF THE MARKETS SGX Nifty signals a negative startNifty futures on the Singapore Exchange traded 328 points, or 1.81 per cent, lower at 18,056, signaling that Dalal Street was headed for a negative start on Wednesday.

• Tech View: Nifty50 on Tuesday climbed for the fourth straight day and, in the process, took out the 18,000 level on a closing basis, the first time since April 4. The 50-pack index, which is trading above its key short and long-term averages, formed a small bullish candle on the daily chart, reflecting the indecisiveness among traders at high.
• India VIX: The fear gauge dropped almost 3 per cent to 17.47 level on Tuesday over its close at 17.94 on Monday.

Asian stocks in deep redMajor Asian stocks sank at the open on Wednesday as investors shunned risk after fresh data that showed US inflation remains stubbornly high triggered Wall Street selloffs. MSCI's index of Asia-Pacific shares outside Japan was trading 2.06 per cent lower.

• Japan's Nikkei tumbled 2.25%
• Australia's ASX 200 tanked 2.64%
• New Zealand's DJ dropped 191%
• South Korea's Kospi plunged 1.53%
• China's Shanghai shed 0.63%
• Hong Kong's Hang Seng fell 2.55%

US stocks sink sharplyWall Street equities took a beating Tuesday following disapp...