The benchmark S&P 500 index was at 5,881.15 points, up 98.39 points or 1.70 per cent, at the time of filing this report. At one point in the early trade, the index touched 5,905.60 points, its 52-week high.
The US accounts for about 18 per cent of India's merchandise exports, including electronics, pharmaceuticals, and petroleum products, among others. However, India's economy is largely driven by domestic demand, so the potential fallout from weaker US growth will likely be contained.