Market Bloodbath: Sensex, Nifty Plunge 1% as Rs 8 Lakh Cr Wiped Out Amid US Tariff Fears

• Indian benchmark indices Sensex and Nifty plummeted 1% each, wiping out over Rs 8 lakh crore in market capitalization.
• US President Donald Trump's approval of a sanctions bill threatening 500% tariffs on Russian oil buyers, including India and China, fueled market fears.
• Persistent selling by Foreign Institutional Investors (FIIs) and weak global cues contributed significantly to the decline.
• Rising crude oil prices, concerns over the US-India trade deal, and a surge in India Vix further dented investor sentiment.
• Metal shares saw a decline, while Nifty closed below its 50 EMA for the first time in three months, signaling a bearish trend.

Why It Matters: US tariff concerns, FII selling, and global cues triggered a massive Rs 8 lakh crore market cap wipeout.