Sensex Sinks 1,555 Points, Nifty Starts 2% Lower As US-Iran Threats Deepened Worries Over Hormuz

Domestic equities started deep in the red on Monday, March 23, tracking weakness across global markets and extending their losing streak into a fifth straight week. The mood remained fragile as escalating tensions between the United States (US) and Iran continued to unsettle investors.

The immediate trigger of today's sell-off is the escalating exchange of threats between the US and Iran over the Strait of Hormuz, a narrow but important shipping route that carries roughly a fifth of the world’s oil supply. Any threat to this corridor tends to push crude oil prices higher and, in turn, raises concerns for economies like India that rely heavily on oil imports.

This is a developing story...