Indian Stocks Erase US Trade Deal Gains on Middle East Conflict

Indian stocks slid as escalating conflict in the Middle East sparked a broad risk-off move, wiping out all gains made since last month’s trade deal with the US.

The NSE Nifty 50 Index closed 1.2% lower in Mumbai, after falling as much as 2.1% earlier in the session. The benchmark slid to its lowest level in more than a month, dropping below where it stood before the US tariff cut on Feb. 2.