Indian Shares Tumble On Rising Oil Prices, Bond Yields

(RTTNews) - Indian shares fell sharply on Tuesday as trading resumed after a long holiday weekend. After a strong opening, benchmark indexes Sensex and Nifty reverse course to end deep in the red on concerns over rising oil and U.S. bond yields amid escalating Middle East tensions. Brent crude prices rose over 2 percent to trade above $108 a barrel amid fears of a tightening oil market after Saudi Arabia closed a critical pipeline that bypasses the Strait of Hormuz following a drone attack. Adding to concerns over global supplies, a highly anticipated meeting in Oman between Iran and Gulf States was postponed at the last minute in the absence of conditions conducive to a constructive dialogue. Traders also looked ahead to the U.S.