Stock markets tumble on oil price spike, foreign fund outflows; Sensex drops 548 points

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Benchmark stock index Sensex dropped by nearly 548 points on Monday as a fresh spike in crude oil prices, unabated foreign fund outflows and rising bond yields dented investors’ sentiment. Erasing opening gains, the 30-share BSE Sensex tanked 547.65 points, or 0.76 per cent, to settle at 71,924.68…