Stock Market CrashStock Market Crash LIVE: The benchmark Indian equity indices, Sensex and Nifty 50, are likely to open on a weak note on Monday, tracking subdued global cues after U.S.-Iran ceasefire negotiations broke down and crude oil prices surged, heightening concerns that the Middle East conflict could drag on longer than anticipated.
U.S.-Iran talks held over the weekend in Islamabad failed to produce a breakthrough, casting doubt on the fragile two-week ceasefire. The U.S. Central Command said American forces would begin enforcing a blockade on all maritime traffic entering and exiting Iranian ports from 10 a.m. ET (1400 GMT) on Monday.
Gift Nifty was trading around the 23,741 level, a discount of 358 points from the Nifty futures’ previous close, indicating a gap-down start for the Indian stock market indices.
Oil and dollar gains while Asian markets crack
Oil prices surged while equities and bonds declined, as a brief phase of market optimism faded after Donald Trump ordered a blockade of the Strait of Hormuz, intensifying tensions with Iran following the collapse of peace negotiations.
Brent crude rallied 6.8% to trade just below $102 per barrel, amid concerns that the blockade could disrupt energy flows through the critical shipping route. Asian equities weakened, with regional shares slipping 0.7%. Meanwhile, S&P 500 futures trimmed earlier losses but remained down 0.7%, as rising oil prices stoked fears of a drag on global economic growth.
The dollar strengthened against all its Group-of-10 counterparts, extending its safe-haven appeal since the onset of the Middle East conflict. U.S. Treasuries declined, while Japan’s 10-year bond yield climbed to 2.49%—its highest level since 1997—on mounting inflation concerns. Gold fell 0.7% to around $4,710 per ounce, as elevated oil prices reinforced expectations that interest rates could remain higher for longer, pressuring non-yielding assets.
The escalation dampened investor appetite to build on last week’s ceasefire-led rally in equities, leading to a more cautious tone across global markets. However, the relatively moderate decline in stocks at the start of Monday’s session suggests investors are still holding onto cautious optimism that a resolution could emerge and limit the broader fallout of the conflict.
S&P 500 futures were down 0.7% as of 10:34 a.m. Tokyo time. Japan’s Topix slipped 0.2%, Australia’s S&P/ASX 200 declined 0.4%, Hong Kong’s Hang Seng dropped 1.1%, the Shanghai Composite edged 0.3% lower, and Euro Stoxx 50 futures fell 1.2%.
The safe-haven dollar advanced broadly. The US dollar index, which measures the greenback’s strength against a basket of six currencies, held steady at 99.056, near its highest level since April 7. The euro fell 0.3% to $1.1684, while the British pound declined 0.5% to $1.3398. Against the yen, the US dollar was up 0.4% at 159.83.
Gold prices fell to a near one-week low on Monday, pressured by a stronger dollar. Spot gold price fell 1.1% to $4,694.30 per ounce, its lowest level since April 7. US gold futures for June delivery fell 1.4% to $4,717.80. Spot silver fell 1.9% to $74.45 per ounce.
Yields on Japan’s benchmark government bonds (JGBs) hit a 29-year high. The benchmark 10-year JGB yield rose 5.5 basis points (bps) to 2.490%, the highest since early June 1997, while the five-year yield rose 4 bps to a record high of 1.900%, Reuters reported.
US consumer prices increased by the most in nearly four years in March. US Consumer Price Index (CPI) jumped 0.9% last month. In the 12 months through March, the CPI advanced 3.3% after rising 2.4% in February.
Crude oil prices jumped as the US Navy prepared to block ships from reaching Iran via the Strait of Hormuz, after the US-Iran ceasefire talks failed to reach a deal to end the war. Brent crude futures jumped 7.05% to $101.91 a barrel, while US West Texas Intermediate was at $104.16 a barrel, up 7.86%.
US forces will begin implementing the blockade, which applies only to vessels entering or departing Iranian ports, from 10 a.m. New York time Monday, the US Central Command (CENTCOM) said. The measure would be applied impartially to ships from all countries, while still permitting vessels traveling between non-Iranian ports to pass through the Strait, CENTCOM added.
The US-Iran talks in Pakistan ended without a deal due to “excessive demands” made by the American side, a top Iranian official said. US President Donald Trump has ordered a naval blockade of the Strait of Hormuz, escalating tensions with Iran after talks failed to resolve disputes over Tehran’s nuclear ambitions.
Asian markets traded lower on Monday amid a surge in crude oil prices. Japan’s Nikkei 225 declined 0.84%, while the Topix fell 0.42%. South Korea’s Kospi plunged 1.83%, while the Kosdaq dropped 1.43%. Hong Kong Hang Seng index futures indicated a lower opening.
Gift Nifty was trading around the 23,741 level, a discount of 358 points from the Nifty futures’ previous close, indicating a gap-down start for the Indian stock market indices.
The benchmark Indian equity indices, Sensex and Nifty 50, are likely to open on a weak note on Monday, tracking subdued global cues after U.S.-Iran ceasefire negotiations broke down and crude oil prices surged, heightening concerns that the Middle East conflict could drag on longer than anticipated.
Pranati Deva is a seasoned financial journalist with over a decade of experience in high-pressure newsroom environments, currently working as a Senior Sub Editor at LiveMint. Over the years, she has developed a reputation for sharp editorial judgement, a strong grasp of market dynamics, and the ability to translate complex financial developments into clear, engaging stories for a wide audience.
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Pranati has built a diverse and credible professional track record across some of India’s most respected news organisations, including MintGenie, CNBC-TV18, Business Standard and EconomicTimes.com. During her stints at these platforms, she produced data-driven market stories, curated and steered live blogs during volatile trading sessions, and conducted interviews with market veterans, fund managers, economists, and industry experts. Her work often combines on-ground reporting with analytical depth, helping readers make sense of daily market fluctuations and longer-term trends.
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