Linkages between the two markets are more pronounced in a downturn, but that may not be the case when the market is on a strong footing. In 51 instances, when the Nifty dropped over 10%, the S&P 500 notched up gains on 13 instances. Linkages between the two markets are more pronounced in a downturn, but that may not be the case when the market is on a strong footing. In 51 instances, when the Nifty dropped over 10%, the S&P 500 notched up gains on 13 instances. Economic Times
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