Indian Stocks Plummet as Global Selloff Deepens on Ukraine Risk
- The plunge coincides with the expiry of February derivatives
- Global stocks tumble, while bonds, oil and gold futures soar
People walk past a digital screen outside the Bombay Stock Exchange in Mumbai, India, on Feb. 24.
Photographer: Indranil Mukherjee/AFP/Getty Images
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Indian stocks joined a global selloff as Russian forces attacked targets across Ukraine, triggering the worst security crisis in Europe since World War II.
The benchmark S&P BSE Sensex closed 4.7% lower, the most since May 2020. The NSE Nifty 50 Index slumped as much as 4.8%. Both measures, which were the worst-performing among major stock benchmarks in Asia on Thursday, fell as much as 5% earlier in the session. The indexes dropped for a seventh day, their longest losing streak since March 2020.