Indian markets open lower on oil and bond yield fears
Business
Not the best morning for Indian markets: Sensex was down 618.22 points and Nifty fell to 23,836.50 as trading kicked off.
The big reasons? Rising oil prices, global bond yields, and worries that US interest rates might go up soon.
It's all making investors a bit nervous.
Brent crude $95.4, Asian markets plunge
Brent crude oil shot up to $95.4 per barrel after overnight U.S.-Iran exchanged strikes, sparking fresh inflation fears.
Asian markets followed suit with sharp declines: South Korea's Kospi plunged 3%, Japan's Nikkei fell 2.2%, and the MSCI Asia-Pacific index (minus Japan) was down 0.8%.
With global bond yields rising, investors everywhere are playing it safe, including in India.