Indian markets open weak as Sensex drops over 150 points
Indian stock markets began the trading day on a weak note, Sensex dropped over 150 points to 79,413.66, and Nifty slipped more than 100 points to 24,538.20.
The main culprits? A worldwide sell-off in AI-related stocks and Brent crude oil inching close to $100 per barrel, fueled by worries over the outlook for the US-Israel war with Iran and new attacks on tankers.
US AI regulation fears hit markets
A big reason for the slide is concern about stricter AI regulations in the US Dr. Jaijit Bhattacharya, President, C-DEP Research pointed out that if Democrats win midterms, big tech could face tougher rules on energy use and competition, which might mean higher costs for these companies.
While this shakes up global markets, it could also open doors for India to level up its own AI game as capital flows shift around.
Big tech all saw their shares drop between 2% and 3%, so it's definitely a moment everyone's watching closely.