US recession fears wipe off 17 lakh crore from the market, Sensex crash over 2600 pts

Mumbai: Amid growing concerns about a possible recession in the United States, investors moved away from riskier assets, leading to a sharp drop in the Sensex, which opened Monday’s session more than 2,600 points lower. Similarly, the Nifty index fell below the 24,000 mark due to heavy selling in major stocks. At the same time, the total market capitalization of all companies listed on the BSE decreased by ₹17 lakh crore, bringing it down to ₹440.16 lakh crore.

By 2 pm the Sensex was down by 2040.51 points at 78941.44 points and Nifty was down by 604.65 points at 24,113.05.