India, March 20 -- Global markets fell sharply on Thursday as the escalating conflict in West Asia triggered a full-blown energy crisis, with crude oil prices surging past $100 per barrel. India's benchmark Sensex fell more than 2,500 points, wiping out approximately INR 12 lakh crore in market value in a single session.

Experts say the crash is the most severe energy-driven market collapse since the 1970s Oil Crisis. Stock exchanges worldwide have been on edge since February 28, 2026, when US-Israel strikes in Iran killed Supreme Leader Ayatollah Ali Khamenei and other top officials. In retaliation, Iran intensified missile and drone attacks across Gulf Cooperation Council (GCC) nations, targeting oil and LNG facilities, airports, hotel...