Sensex slips over 500 points in pre-open trade as Nifty falls below 23,300; Asian markets slide

Risk sentiment weakened as Asian equities slid and Indian benchmarks signaled a sharp gap-down, driven by rising U.S. Treasury yields near 5% and elevated oil amid West Asia tensions and Saudi output falling to the lowest since 1990. Higher energy prices intensify inflation concerns, lifting Fed hike expectations and pressuring gold/silver. The mix of tighter financial conditions and cost-push inflation is broadly negative for equities and risk assets.