Indian Shares Extend Losses As Strait Tensions Rise; IT Stocks Worst Hit On AI Fears

Indian shares opened lower on Tuesday, extending steep losses from the previous session as investors fretted about the potential impact of surging crude oil prices and a weakening rupee on the Indian economy.

Brent crude futures traded above $105 a barrel and the rupee slipped to another record low of 95.63 against the dollar after U.S. President Donald Trump said the fragile ceasefire between Washinton and Tehran was on “massive life support,” raising fresh doubts over the chances of a lasting truce.