Stock Maket update:
With tensions escalating in the Middle East overnight, significant global ramifications are imminent. Crude oil prices, already soaring, are expected to skyrocket further, triggering a substantial downturn in the global stock market in the days ahead.
The potential consequences of an Iranian drone attack on Israel are grave, with a high likelihood of drawing the United States into the conflict, plunging the entire Middle East into chaos.
This conflict has the potential to engulf vast regions of the world, primarily due to the heavy reliance on Middle Eastern oil supplies, which constitute approximately 75% of the world’s total oil production. The strategic importance of the Hormuz Strait cannot be overstated, as it facilitates the passage of 30% of the world’s oil.
In a worst-case scenario of major escalation, Iran may opt to block the Hormuz Strait, triggering widespread panic across the globe.
As the US stock maket crash more than 1% in single trading session it indicats the global satuation and Indian market will react on upcoming mondya accordingly (high chance).
