India Halts Trading Second Time in Two Weeks; Rupee at New Low [Yahoo! Finance News]
ING Group, N.V. (ING)
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Source: Yahoo! Finance News
) -- India halted stocks trading for the second time in two weeks and the rupee tumbled to a new low after authorities ordered a lockdown in much of Asia’s third-biggest economy. The S&P BSE Sensex Index slid 10%, setting off a 45 minute system-wide trading halt as of 9:58 a.m. in Mumbai. The NSE Nifty 50 Index sank 9.6%, tracking declines across the region as the flight from riskier assets continued. The currency hit a new low of 76.1375. Prime Minister Narendra Modi and state leaders over the weekend imposed an almost-complete lockdown as cases of coronavirus spiked, a move that will probably worsen an economy already set to slow to an 11-year low. The central bank, which is due to decide on interest rates April 3, is injecting both rupe
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