Indian Shares Slide as US Strikes on Iran Push Oil Higher
📉 MARKETS — India imports most of its oil; US strikes are a tax on Mumbai. 📌 LOOK CLOSER: India imports over 85% of its oil — crude rising on Hormuz strikes hits import bills directly. Asian markets now price indefinite disruption, not a punitive episode. As US strike waves multiply without Iranian capitulation, risk-off spreads from Gulf energy to EM equities. The variable that shifts: how long central banks absorb the crude shock.
