Just the possibility of military action against Syria was enough to shake the markets. The price of oil surged after the first warnings from Washington. Though Syria itself is not a major oil producer, the prospect of further instability in the region worries many.
This situation is weighing particularly heavily on emerging markets and their currencies, which also continue to suffer amid concerns over slower growth and expectations that the US central bank will wind down its stimulus programme soon. India is among those suffering most.
We discuss all that with Nejra Cehic from Bloomberg in this edition of Business Weekly.