Stock markets slump in early trade amid rising crude oil prices

MUMBAI: (May 11) Stock markets tumbled in early trade on Monday amid rising crude oil prices after the US and Iran failed to reach a peace deal to end the West Asia war.

US President Donald Trump has dismissed Iran’s response to the latest US peace proposal as ‘totally unacceptable’, dampening hopes of an immediate diplomatic breakthrough, an expert said.

The 30-share BSE Sensex tanked 845.68 points to 76,482.51 in early trade. The 50-share NSE Nifty dropped 237.90 points to 23,936.85.