Stock markets extend losses to fourth day on surging crude oil prices

Stock markets extend losses to fourth day on surging crude oil prices

Sensex fell 0.47%, Nifty 0.53% as crude jumped 4.52% to $98.32/barrel on Middle East tensions, extending a four-day selloff. Rising energy costs pressure IT capex budgets and corporate margins; inflation fears signal caution on cloud spending through year-end.