Markets open in red, Sensex loses 185 Points, Nifty below 10,850

Domestic markets on TUesday opened in red. The benchmark BSE Sensex opened at 36,226.38 and the Nifty50 barometer of the National Stock Exchange (NSE) at 10,850.90. At 9:42, Sensex was at 36,110.47, down by 159.60 (0.44 percent) while Nifty was at 10,841.10 mark.

Among the top losers were Infosys, Wipro, Indiabulls Housing Finance and Yes Bank.

Meanwhile, Asian share markets slumped on Tuesday as heightened concerns about a slowing global economy sent Wall Street stocks skidding to their lowest levels in more than a year.

MSCI's broadest index of Asia-Pacific shares outside Japan shed 0.3 percent in mid-morning trade while Japan's Nikkei tumbled 1.2 percent by the midday break.

Chinese shares opened in negative territory with the blue-chip index down 0.3 percent and Hong Kong's Hang Seng index flat, while Australian shares fell 0.8 percent.

MSCI's broadest gauge of the world's stock markets, ACWI , was down 0.05 percent on Tuesday, after having hit its weakest level since May 2017 the previous day. It has declined 16 percent from a top hit on January 29.

U.S. stock futures rose 0.4 percent in Asia following the previous session's sharp sell-off.

On Monday, the S&P 500 lost 2.08 percent to hit its lowest since October 2017 as it breached lows reached during a sell-off in February, having wiped out about $3.4 trillion of market value since late September.

The Nasdaq Composite dropped 2.27 percent, with Amazon, one of the best performing shares this year, sliding 4.5 percent.

A profit warning from ASOS, a previously high-flying UK online-clothing retailer, shocked investors, sending U.S. consumer discretionary shares down 2.8 percent

"U.S. retailers have been stocking up consumer goods from China before hikes in tariff, piling up inventories. From now their costs are seen rising next year. That may have been kind of known to everyone but it's becoming reality," said Tatsushi Maeno, senior strategist at Okasan Asset Management.

Bombay Stock Exchange - BSE

National Stock Exchange of India Ltd (NSE)