The markets were volatile last week, though they reversed the losing streak of the previous week. Markets gained on four of five trading sessions. They lost only on Friday to cement the adage, ‘Buy the rumour and sell the fact’. The Fed raised interest rates by 25 basis points after almost a decade. US markets were strong till Wednesday, the day rates were announced, and, fell sharply on the remaining two days.

Federal Reserve chair Janet Yellen holds a news conference in Washington, following an announcement that the Federal Reserve raised its key interest rate by quarter-point, heralding higher lending rates. Pic/AP/PTI