After a status quo on the interest rates during August, the consensus now calls for at least 25 basis points cut by RBI on September 29th. The US indices – Dow, Nasdaq and S&P have produced what is technically called a death cross pattern at the same time. This pattern was last seen on Aug 24, 2011 and in the last 35 years; such a pattern has been witnessed only 13 times. The Nasdaq was down 3%, S&P 500 fell over 2% and Dow Jones fell 1.92%. Asian markets are also bleeding.