Sensex tanks 1,500 points, Nifty falls below 17,000 mark
Business
Indian stock markets took a big hit on Monday: Nifty fell 2.6% and Sensex dropped 2.5%, marking a sharp single-day decline.
Rupee sinks to record low
The Bombay Stock Exchange lost ₹14 lakh crore in value in just one day, and the rupee sank to a record low of 93.97 to the US dollar.
If you're following your investments or thinking about starting, this is one of the larger recent market declines, and it's mostly being blamed on global uncertainty.
Foreign investors pull out
Rising tensions in West Asia have pushed oil prices above $114 a barrel, fueling inflation worries and prompting foreign investor outflows.
Every sector felt the pain: real estate and capital goods stocks fell up to 5%, while auto and energy weren't far behind.
Over 1,000 stocks even hit their lowest point in a year.