Indian stock market collapses in Gandhi turmoil

Political uncertainty and financial panic swept India today as the stock market shutdown after its worst-ever plunge and two powerful communist parties refused to join a proposed new government under Sonia Gandhi.

As she prepared to seek formal approval from the president for the formation of what will now have to be a minority government, Hindu nationalists added to the turmoil with street protests against Gandhi’s bid to become the nation’s first foreign-born leader.