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Dalal Street tumbles as rupee hits record low and oil spikes on US Iran uncertainty
Economy
Published on 13 May 2026
US Iran peace talks shake markets and boost dollar buying
Dalal Street suffered its sharpest single day drop in six weeks as the rupee hit a record low for the second straight session. Uncertainty around US Iran peace talks lifted oil prices, while Prime Minister Modi’s austerity call dented confidence, driving investors to buy dollars and weigh on equities.
- Rupee fell to a record low for the second consecutive day
- Equity indices saw the biggest one day drop in six weeks
- US Iran peace talk uncertainty pushed oil higher
- Dollar buying intensified as investors turned cautious
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times