India, Sept. 2 -- Indian shares were sharply lower in early trade on Wednesday as higher oil prices and elevated bond yields fueled concerns about inflation and Federal Reserve rate hikes.
Brent crude futures rose toward $96 a barrel, extending gains for a third consecutive session to the highest level in nearly six weeks amid escalating fighting between the U.S. and Iran.
Rising oil prices pressured bonds, pushing global bond yields to the highest since 2008 and increasing the prospect of a Federal Reserve rate hike later this month.
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