Just saw that ₹4 lakh crore+ got wiped out from the Indian stock market in a single day. Crazy.
PM Modi has urged people to conserve fuel, reduce gold purchases, and avoid unnecessary foreign travel with the energy crisis heating up because of the US-Iran situation and tensions near the Strait of Hormuz.
Since we import around 90% of our crude oil, the fear of supply shocks is real. There's even talk of bringing back work-from-home to save fuel.
Markets are reacting sharply — clearly a lot of worry about what’s coming.