US indices fall >1% as oil spikes, Nifty down 100
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- US indices fell more than 1% on Monday as Middle‑East geopolitical tensions intensified and oil prices surged.
- Crude oil briefly rose close to $120 a barrel, reviving inflation and stagflation concerns.
- Iran named Mojtaba Khamenei as its new supreme leader, signaling hard‑line consolidation and marking the conflict's tenth day.
- Group of Seven and Saudi Arabia began talks to increase oil supply, leading to a slight easing of crude prices after the surge.
- Maulik Patel of Equirus Securities said oil markets are trading on a geopolitical risk‑premium, with the US‑Israel‑Iran conflict and Strait of Hormuz disruptions tightening near‑term supply outlook.
- Hitesh Tailor of Choice Equity Broking noted that Nifty options data shows a defined range, with heavy put writing at the 23,800 strike and aggressive call writing at 24,400.
- Shrikant Chouhan of Kotak Securities described the broader market as weak but technically oversold, identifying support at 24,000‑23,900 and warning a deeper correction could push Nifty toward 23,500.
Why it matters: Investors face heightened risk as oil’s jump to $120 a barrel pushes US equities down >1% and drags Indian Nifty 100 points lower, while traders betting on stable supply see premiums erode, and any further Strait of Hormuz disruption could amplify price spikes.
Ask SkimNews
