Top News On December 20: Stock Market Crash, Google Layoffs, OP Chautala Death, Jaipur Blast And More

(MENAFN- Live Mint) Indian stock market indices continued to plummet as the rupee hit a historic low of 85.34 against the dollar on Friday. google announced a 10% reduction in managerial roles while US President-elect Donald trump threatened fresh tariffs against the European Union. Five-time Haryana Chief Minister OP Chautala passed away in Gurugram - prompting authorities to declare three days of state mourning. At least 11 people were killed and dozens others left critically injured after an LPG tanker collided with a truck in Jaipur and sparked a massive fire.

Stock market crash
Sensex and Nifty plunged about 1.5% on Friday amid risk aversion in the global markets following a hawkish stance by the US Federal Reserve. Equity investors have lost approximately ₹18.43 lakh crore in five days of market crash as the BSE benchmark Sensex tanked 4,091 points. Meanwhile the Indian rupee hit a historic low of 85.34 against the dollar on Friday - further damaging market sentiment.

Also Read | Sensex crashes 1,200 points: 5 factors behind Indian stock market's fall

OP Chautala passes away
Five-time Haryana Chief Minister OP Chautala died in Gurugram on Friday. The Haryana government has since declared three days of state mourning and dubbed Saturday a public holiday in all state government offices as a mark of respect. A party spokesperson told PTI that the controversial Jat leader passed away after suffering a cardiac arrest at his house.

Also Read | Om Prakash Chautala, former Haryana CM, passes away at 89

Google announces layoffs
Google will be laying off approximately 10% of its workforce in managerial roles amid continued efforts to streamline operations. The announcement was made by CEO Sundar Pichai during an all-hands meeting on Friday. The affected employees include directors and vice-presidents - with some roles being transitioned into 'individual contributors' while others were eliminated.

Also Read | Google layoffs: CEO Sundar Pichai announces 10% job cuts in managerial roles

Jaipur-Ajmer highway blast
At least 11 people were killed and more than 35 injured on Friday after an LPG tanker collided with a truck in Jaipur. The clash sparked a massive fireball that turned a stretch of the Jaipur-Ajmer highway into an inferno and engulfed 37 vehicles in flames. State health minister Gajendra Singh Khimsar also said that nearly half of the injured remained in a "very critical" condition.

Also Read | 'Saw a man engulfed in flames': Witnesses of Ajmer highway crash recount horror Also Read | Modi announces ₹2 lakh ex-gratia for families of deceased in Jaipur fire

Trump threatens tariffs
US President-elect Donald Trump has threatened to impose tariffs on the European Union unless they commit to a“large-scale” purchase of US oil and gas. The ultimatum came days after the Republican leader warned the BRICS nations of crushing sanctions if they chose to challenge the dollar.

Also Read | After BRICS, Donald Trump issues ultimatum to European Union: 'Buy US oil or...'

(With inputs from agencies)

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