Stock markets tumble in early trade amid worsening tensions in Middle East
Mumbai (PTI): Equity benchmark indices Sensex and Nifty tumbled in early trade on Monday amid heightened tensions in the Middle East after the US bombed three major nuclear sites in Iran.
The 30-share BSE Sensex tumbled 705.65 points to 81,702.52 in early trade. The 50-share NSE Nifty dropped 182.85 points to 24,929.55.
The US bombed three major nuclear sites -- Fordow, Natanz and Isfahan -- in Iran, bringing itself into the Israel-Iran conflict.
"Even though the US bombing of Iran’s three nuclear facilities has worsened the crisis in the West Asia, the impact on the market is likely to be limited. Even though the possibility of the closure of Hormuz Strait is a threat, it is important to understand that this has always been only a threat and the Strait had never been closed," VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said.
From the 30-Sensex firms, Infosys, HCL Tech, Hindustan Unilever, Bajaj Finance, Power Grid and Eternal were the biggest laggards.
In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, and Hong Kong's Hang Seng were trading lower while Shanghai's SSE Composite index quoted marginally higher.
US markets ended mostly lower on Friday.
Global oil benchmark Brent crude jumped 1.69 per cent to USD 78.31 a barrel.
Foreign Institutional Investors (FIIs) bought equities worth Rs 7,940.70 crore on Friday, according to exchange data.
On Friday, the 30-share BSE Sensex surged 1,046.30 points or 1.29 per cent to settle at 82,408.17. The Nifty climbed 319.15 points or 1.29 per cent to 25,112.40.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Top US counterterrorism official resigns over Iran war, says Iran posed no imminent threat
Washington (AP): Joe Kent, the director of the National Counterterrorism Centre, announced his resignation on Tuesday, saying he “cannot in good conscience” back the Trump administration's war in Iran.
Kent said on social media Iran “posed no imminent threat to our nation, and it is clear that we started this war due to pressure from Israel and its powerful American lobby.”
There was no immediate comment from the White House.
Kent, a former political candidate with connections to right-wing extremists, was confirmed to his post last July on a 52-44 vote.
As head of the National Counterterrorism Centre, he was in charge of an agency tasked with analysing and detecting terrorist threats.
Before entering President Donald Trump's administration, Kent ran two unsuccessful campaigns for Congress in Washington state. He also served in the military, seeing 11 deployments as a Green Beret, followed by work at the CIA.
Democrats strongly opposed Kent's confirmation, pointing to his past ties to far-right figures and conspiracy theories. During his 2022 congressional campaign, Kent paid Graham Jorgensen, a member of the far-right military group the Proud Boys, for consulting work. He also worked closely with Joey Gibson, the founder of the Christian nationalist group Patriot Prayer, and attracted support from a variety of far-right figures.
During his Senate confirmation hearing, Kent also refused to distance himself from a conspiracy theory that federal agents instigated the January 6, 2021, attack at the Capitol, as well as false claims that Trump, a Republican, won the 2020 election over Democrat Joe Biden.
Democrats grilled Kent on his participation in a group chat on Signal that was used by Trump's national security team to discuss sensitive military plans.
Still, Republicans praised Kent's counterterrorism qualifications, pointing to his military and intelligence experience.
Sen. Tom Cotton, the GOP chair of the intelligence committee, said in a floor speech that Kent had "dedicated his career to fighting terrorism and keeping Americans safe.”
