Global equity markets declined on May 6, 2025, as investors awaited the outcome of the U.S. Federal Reserve's policy meeting and monitored ongoing trade tensions. U.S. stock futures fell, with S&P 500 futures down 0.9%, Dow futures losing 303 points (0.7%), and Nasdaq futures dropping 1.2%. The Federal Reserve is widely expected to keep interest rates steady, with only a 2.7% chance of a rate cut priced in by traders. In India, benchmark indices Sensex and Nifty ended their two-day winning streak, closing at 80,641.07 (down 156 points, or 0.19%) and 24,379.60 (down 82 points, or 0.33%) respectively. Nifty Bank fell 400 points off its day's high to trade below 54,700, and the PSU Bank index closed at 54,271.40, down nearly 5%. The Nifty Realty index declined by 3.58%. Midcap and smallcap indices fell 2.27% and 2.50%, respectively. Major sectoral losers included PSU banks, real estate, and Nifty Pharma, which dropped over 1.8%. Bank of Baroda declined 10.91%, Union Bank of India fell 6.19%, and Bank of India lost 6.33%. In the real estate sector, Godrej Properties dropped 6.36% and Sobha Limited fell 4.96%. Among Sensex constituents, Eternal (formerly Zomato), Tata Motors, State Bank of India, Adani Ports, NTPC, IndusInd Bank, Bajaj Finance, Asian Paints, Axis Bank, and Sun Pharma were notable losers, with some falling between 1.94% and 3.15%. Bharti Airtel, Tata Steel, Mahindra and Mahindra, Hindustan Unilever, Nestle India, and Maruti posted gains. Other market indicators included a rise in the India VIX by 3.58% to 19 points, Brent crude trading at $61.85 per barrel, and foreign institutional investors buying Rs 497.79 crore in equities. The HSBC India Services PMI reached 58.7 in April, up from 58.5 in March. Asian markets traded mixed, while European and U.S. markets also saw declines.