Overview
- India’s Sensex fell 1,456 points and Nifty 436 points on Tuesday, erasing roughly Rs 10 lakh crore as the rupee hit a record 95.6 per dollar and Brent crude hovered near $107.
- Geopolitical stress deepened after President Donald Trump rejected Tehran’s proposal and said the ceasefire was on “massive life support,” pushing oil higher and spurring foreign investor sales of about Rs 1,959 crore.
- Early Wednesday trading was choppy across Asia after a hotter U.S. inflation print lifted Treasury yields and the dollar, with Brent holding above $100 and Indian shares fluctuating after the prior day’s drop.
- In India, technology and real estate stocks led declines and broader mid- and small-cap gauges fell more than the benchmarks, stoking worries that a weaker currency will raise fuel costs and feed consumer inflation.
- Bitcoin slipped about 1% to near $80,500 and ether fell around 2% as risk assets eased, even as CME Group targets a June 1 launch for Bitcoin Volatility futures pending regulatory approval.