Sensex drops after Iranian ship seizures in Strait of Hormuz
Business
The Sensex dropped 600 points to trade on Thursday, with Nifty slipping below 24,200.
This sharp fall comes after news of Iranian forces seizing ships in the Strait of Hormuz, sparking worries about global inflation and growth, even though a ceasefire has been in place since early April.
Global markets mixed, oil above $100
The tension has made global markets pretty jumpy. Japan's Nikkei dipped after an early rise, while South Korea's Kospi actually went up.
Over in the US things held steady with all major indices climbing a bit.
Oil prices stayed high above $100 per barrel due to supply concerns, but gold and silver lost some value, reflecting just how uncertain things feel right now for investors everywhere.