Trump calls for Strait of Hormuz naval blockade, markets tumble
Business
Big market moves this morning: After president Donald Trump called for a naval blockade in the Strait of Hormuz, Indian stocks are set to open sharply lower.
The Gift Nifty index dropped 300 points early, while Japan's Nikkei and Hong Kong's Hang Seng also slid: clear signs that investors everywhere are worried about rising geopolitical tensions.
Oil jumps 11% to $105
Trump's announcement targets Iran and could disrupt one of the world's most important oil routes (over 20% of global oil passes through this narrow waterway).
Oil prices have already jumped about 11%, crossing $105 per barrel, as traders brace for possible supply shocks.
In short: when something happens here, everyone, from energy companies to everyday drivers, feels it.