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Indian markets are likely to open weak tracking the SGX Nifty. SGX Nifty was down 70 points. US markets eventually ended in red after a lackluster performance as traders kept a close eye on the price of crude oil, which saw considerable volatility on the day. Traders may also have been looking ahead to remarks by Janet Yellen, who is scheduled to testify before the House Financial Services Committee today. The Energy Information Administration (EIA) is also due to release its weekly oil inventories report today, potentially driving the price of crude oil. The European markets ended in negative territory, extending their losing streak to a seventh session. Concerns about global growth prospects continue to plague the markets. Bank stocks also continued to get hammered due to concerns over troubled loans. Indian shares followed global peers lower on Tuesday as concerns over oil price volatility, slowing global growth and speculation over the Federal Reserve raising rates further in MaDownload Full Report