$TRUMP! If the Pahalgam attack is a terror incident or a high-casualty militant strike, especially targeting civilians or security forces, it can have short-term localized and ripple effects on financial markets, including crypto. Here's how it might impact the markets:

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1. Stock Market (India)

Nifty & Sensex may drop short-term due to investor panic.

Defense sector stocks might rise, while tourism, airlines, and hospitality could fall.

FII (Foreign Institutional Investors) may pull back slightly if geopolitical risks seem to rise in Kashmir.