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Sensex nosedives 300 pts; Nifty slips below 9,750; Tata Motors cracks 5%

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Sensex nosedives 300 pts; Nifty slips below 9,750; Tata Motors cracks 5%

| Aug 11, 2017, 09:30:15 AM

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Benchmark indices took plunged on Friday morning following a sharp correction in US stocks overnight on escalating geopolitical tensions. A ripple effect was seen across Asian markets which declined up to 1.2 per cent. India was no exception.

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Nancy Pelosi Calls Oscar Night a Needed Moment of Unity

Former House Speaker Nancy Pelosi praised Hollywood after the Academy Awards, saying the film industry continues to give people hope by bringing them together through shared emotion, inspiration and storytelling. Pelosi described this year’s Oscars as a celebration of excellence, community and artistic urgency, adding that every nominee was a winner in their own way. She also pointed to growing concerns around what she called an assault on the arts, saying the evening highlighted why culture and creative expression remain important during uncertain times.

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UK Prime Minister Keir Starmer has firmly told Trump that Britain will not be drawn into the wider Iran war, refusing to send Royal Navy warships to join Trump's proposed Hormuz coalition. Speaking at Downing Street, Starmer instead pledged direct cost-of-living support for British families as the Iran war doubled heating oil prices for 1.5 million households. Chancellor Reeves confirmed the Treasury has "found the money." Oil has peaked at $120 a barrel. Mortgage lenders are reversing rate cut plans. And the UK is refusing to follow the US in easing Russia sanctions to ease global oil supply. Starmer's tightrope: protect British wallets, resist Trump's war, and hold together a coalition that doesn't yet exist.

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