Asian markets experienced a downturn, with the Hang Seng Index falling by 0.9% and the Shanghai Composite dropping 1.3%. The Nikkei 225 also declined by 1%. In the U.S., major indices closed lower, with the Dow Jones and Nasdaq each down 1.6%. The FTSE 100 and CAC 40 fell approximately 0.8%. The GIFT Nifty indicated a gap-down opening for the Indian market, trading at a discount of over 150 points from the Nifty Futures close, suggesting a weak start. On January 10, the Nifty 50 fell 0.4%, and if it breaks below the critical support level of 23,350, it may test further support at 23,263 and 23,000. The Sensex closed at 77,378, down 241 points, while the Nifty closed at 23,431, down 95 points. The bearish sentiment in the markets is attributed to inflation concerns and weak global cues, compounded by a strong U.S. jobs report that has tempered expectations for a Federal Reserve rate cut.