Brief by Shorts91 Newsdesk / 07:04am on 05 Aug 2024,Monday Business
The Sensex and Nifty indices crashed by over 3% each, wiping out Rs 18 lakh crore in investor wealth. The Sensex fell by 2,345 points to 78,636.37, while the Nifty50 dropped 698.70 points to 24,019 amid fears of a potential US recession. Experts attribute the sharp decline to weak US job data, geopolitical tensions in the Middle East, and the unwinding of the Yen carry trade affecting the Japanese market. Investors are advised to trade cautiously and monitor global trends.
