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Oil Surges Past $100 Amid Iran War Fears; GIFT Nifty Plunges 800 Pts, Global Markets Reel
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Oil Surges Past $100 Amid Iran War Fears; GIFT Nifty Plunges 800 Pts, Global Markets Reel
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CNBC Awaaz
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09-03-2026, 07:57
Oil Surges Past $100 Amid Iran War Fears; GIFT Nifty Plunges 800 Pts, Global Markets Reel
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Brent Crude crosses $100 per barrel, reaching $108-110, due to US-Israel war with Iran, up from below $90.
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GIFT Nifty plunges 800 points, signaling a weak opening for Indian markets; Nifty previously lost ₹15 lakh crore.
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Global markets in turmoil: Dow Futures down 950 pts, Nikkei 6%, Kospi 7.4%; chipmakers Samsung, SK Hynix fall over 8%.
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Rising crude prices (up 20%) fuel inflation fears, making investors cautious; US dollar strengthens as a safe haven.
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Experts warn of continued market volatility and uncertainty until Middle East tensions subside.
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