BENGALURU: Indian shares posted their worst week in six months as robust US economic data revived concerns of higher interest rate hikes, while a surge in COVID-19 infections in China also dampened risk appetite.

India’s benchmark Nifty 50 slipped below the 18,000 mark on Friday and closed down 1.77% at 17,806.80, lowest since Oct. 28.

The S&P BSE Sensex fell 1.61% to 59,845.29, and closed below 60,000 for the first time since Oct. 28, marking the worst week for the Nifty and Sensex in six months. Both the indexes fell over 2.4% on a weekly basis.

Wall Street fell sharply overnight after a resilient final estimate of third-quarter US gross domestic product and other data fuelled worries that the Federal Reserve would keep hiking interest rates for longer than feared.

Meanwhile, China is expecting a peak in COVID-19 infections within a week, a health official said, with authorities predicting extra strain on the country’s health system.