Rs 6.35 lakh crore wiped out as oil spike and war fears grip markets

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Indian markets plunged and the rupee weakened as conflict between the US and Iran escalated, causing oil prices to surge nearly 8%. Investors are cutting back on risk amid concerns over supply disruptions in West Asia and the safety of Indian citizens. The situation raises fears of a prolonged conflict, potentially pushing oil prices to $100 a barrel.

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