Sensex Crashes 1,677 Points After Trump Declares Iran Peace Deal 'Over'

Tensions between the United States and Iran have flared up once again. As the two countries launched large-scale attacks against each other, the mood in the stock market changed dramatically. At the same time, oil prices surged once again. US President Donald Trump's remarks on the peace agreement between the United States and Iran had a significant impact on the Indian stock markets. Trump declared that, as far as he was concerned, the peace agreement was effectively over. He also said that holding talks with Iran was a waste of time. The markets remained volatile from Wednesday morning but came under intense selling pressure after noon.

                                       The primary reason was Trump's statement on the peace agreement. Following his remarks, heavy selling was witnessed across all major stocks. In simple terms, the market witnessed a bloodbath. The BSE Sensex plunged 1,677 points to close at 76,503. Meanwhile, the National Stock Exchange's Nifty 50 also fell 516.65 points to settle at 23,882.05. The sharp decline wiped out nearly ₹8 lakh crore of investors' wealth within a matter of hours. Selling pressure was seen across shares in almost all sectors.