Domestic equity markets are set for another tepid opening on Thursday, tracking the weak cues from global peers. Asian markets sank in in early trade, whereas US stocks settled sharply lower. The US Fed has raised interest rates for the third time in a row and warned of more such hikes to tame the rising inflationary pressure, hurting global sentiments. Here’s breaking down the pre-market actions:STATE OF THE MARKETSSGX Nifty signals a negative startNifty futures on the Singapore Exchange traded 83 points, or 0.47 per cent, lower at 17,712, signaling that Dalal Street was headed for a negative start on Wednesday.Tech View: The index made a small-bodied candle on the daily charts ahead of the US Federal Reserve outcome. Indian markets will react on Thursday morning. Even though buying interest was seen from lows, the absence of follow-up activity is seen at higher zones.India VIX: The fear gauge spiked almost 3 per cent to 19.32 level on Wednesday over its close at 18.80 on Tuesday.Asian stocks tumble at openAsian stocks sharply the open Thursday morning following another big interest rate hike by the US Federal Reserve and a warning that there were more to come. MSCI’s index of Asia-Pacific shares outside Japan was trading 1.40 per cent lower.Japan’s Nikkei tumbled 0.94%Australia’s ASX 200 tanked 1.34%New Zealand’s DJ gained 0.20%South Korea’s Kospi plunged 1.38%China’s Shanghai retreated 0.18%Hong Kong’s Hang Seng fell 1.84%Wall street drops sharplyUS stocks rose, then slumped sharply while Treasury yields surged and then fell on Wednesday as markets reacted wildly to a bleak economic picture next year after the Federal Reserve adhered to a tough stance to fight inflation by jacking up interest rates.Dow Jones tanked 1.70% to 30,183.78S&P 500 plunged 1.71% to 3,789.93Nasdaq tumbled 1.79% at 11,220.19Dollar powers to new 20-year highsThe US dollar pushed to a fresh two-decade high versus major peers on Thursday, propelled by the Federal Reserve’s hawkish outlook for interest rates and Russian President Vladamir Putin’s mobilisation of more troops for the war in Ukraine.Dollar index jumped up to 111.65Euro edged lower to $0.9807Pound slipped to 37 year low of $1.1225Yen was struggling at 144.44 per dollarYuan exchanged hands at 7.0924 against the greenbackOil prices slipOil prices edged lower in early Asian trade on Thursday after the US Federal Reserve raised interest rates significantly to curb inflation, with fears for the global economy casting a shadow over future fuel demand.Brent crude futures fell 16 cents, or 0.2 per cent, to $89.67 per barrel by 0013 GMT, while US West Texas Intermediate (WTI) crude dropped 15 cents to $82.79 per barrel.FIIs sell shares worth Rs 461 crNet-net, foreign portfolio investors (FPIs) turned sellers of domestic stocks to the tune of Rs 461.04 crore, data available with NSE suggested. However, DIIs turned net buyers to the tune of Rs 538.53 crore, data suggests.Stocks in F&O ban todaySix stocks – Ambuja Cements, Can Fin Homes, Delta Corp, Escort Kubota, PVR and RBL Bank – are under the F&O ban for Thursday. September 22. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 per cent of the market-wide position limit.US Fed hikes rate by 75 bpsThe US Federal Reserve for the third time approved an interest rate hike by 0.75 per cent in an aggressive move to tackle the inflation that has been affecting the US economy.The hike takes the central bank’s benchmark lending rate to a new target range of 3 per cent-3.25 per cent, which is the highest fed funds rate since the global financial crisis in 2008.MONEY MARKETSRupee: The rupee declined by 22 paise to close at 79.96 against the US dollar on Wednesday, tracking the strength of the American currency in the overseas markets and a muted trend in domestic equities.10-year bonds: India 10-year bond tanked sharply 0.84 per cent to 7.23 after trading in 7.23 – 7.24 range on Wednesday.Call rates: The overnight call money rate weighted average stood at 5.47 per cent on Tuesday, according to RBI data. It moved in a range of 4.00-5.80 per cent.