New Delhi: Amid concerns about the sudden hike in H-1B visa fees and the tariffs imposed by the administration of US President Donald Trump, the rupee fell to a new record low of 88.7 against the US dollar on Tuesday (September 23).At the same time, Nifty IT, FMCG, and Defence indices too registered a fall up to 1%. On Wednesday (September 24), Gift Nifty was trading 40 points down at 25,200 at 7 am, a decline of 0.16 percent, reported Moneycontrol.Earlier on Tuesday, the Sensex ended 0.07 percent lower at 82,102, while the Nifty slipped 0.13 percent to 25,197.50.Investor confidence was further dented by a weak August PMI print, lower than the previous month.A fall was witnessed in equities across Asia on Wednesday, echoing Wall Street losses after US Federal Reserve Chair Jerome Powell cautioned that “equity prices are fairly highly valued.”Powell has said that the Fed faces a “challenging situation” and offered no clarity on the rate-cut trajectory.While global investors are awaiting the release of the US personal consumption expenditures price index, traders are also keeping a keen eye on the developments in Washington as the risk of a government shutdown looms, with lawmakers yet to reach a deal ahead of the September 30 funding deadline.