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<ul><li>Sensex plunged over 1,100 points, while the NSE Nifty crashed 326.30 points to close at 10,805 points on Thursday</li><li>Analysts explain the reasons behind Sensex losing over 2500 points in one week— and here’s why this may continue in the next session.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>The blood-bath in the Indian stock-market continued with markets ending lower for the sixth straight session today. The 30-share BSE index, Sensex plunged over 1,100 points, while the NSE Nifty crashed 326.30 points to close at 10,805.55 points. The selloff was led by banking, IT and metal stocks. The sell-off today eroded nearly ₹4 lakh crore from investors’ wealth in a single trading session. Fears of fresh lockdown in Europe and heavy FII outflows weighed on investor sentiment leading to a 7% fall this week in the Indian stock market. This is the second-worst fall this year after the recent <keyword id="560410" type="PERSON" weightage="20" keywordseo="Market-crash">market crash</keyword> in March. These were the top losers and gainers in the Nifty pack at the end of the trade: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bharti Infratel </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ZEE Entertainment </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HUL </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">- </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Grasim </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">- </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td></tr></tbody></table> These are the reasons behind Sensex losing over 2500 points in one week, according to top analysts — and here’s why they believe more weakness is in store. What led to the sharp fall? <ul><li>Weak global cues</li></ul>Global indices across Asia felt the pain in trade today as concerns over the rising coronavirus cases across the world keps investors jittery. Indian indices fell the most amongst emerging Asian markets today. According to Arun Kumar, Market Strategist at Reliance Securities, the current deterioration in the Indian equities is due to negative global cues followed by relatively heavy selling by FIIs on the cash segment. “The Information Technology sector, led by TCS &amp; Infosys lost almost eight days gains in just one trading session. Additionally, the bellwether sector Banks also failed to garner any buying interest and collapsed as bears pressed ahead with their selling pressure. The Nifty 50 has edged closer to its long-term average of 10,760 (200 DMA). Any fresh selling below this point would damage the medium-term sentiments of the market,” he said. <ul><li>Resurgence of coronavirus cases </li></ul>Analysts believe the looming COVID-19 uncertainty in the US and Europe also contributed to the downfall in the global market. "Given the uncertainty to economic outlook from the second wave of covid, US presidential elections and the US stimulus package, investors are shunning risky assets. Commodities and equities have sold off," said Abhishek Goenka, Founder and CEO, IFA Global. <ul><li>Strong dollar and FII outflows</li></ul>“The ‘Dollar Index’ which we had recently highlighted for its breakout has moved higher which too is not good for the equity markets. The immediate support for Nifty is placed in the range of 10800-10750 followed by 10670, whereas 11000-11100 will be seen as resistance on pullback moves. Thus, we continue with our advice for traders to stay light and avoid overnight positions,” Ruchit Jain Senior Analyst — Technical and Derivatives at Angel Broking said. <ul><li>F&amp;O expiry jitters</li></ul>Calling it one of the “worst expiry days” for Indian markets in the recent past, Jain from Angel Broking said “There was no respite for any of the indexes as all the sectors, including the recent outperformers took a sharp knock.” And, according to Vinod Nair, <a href="https://www.livemint.com/market/stock-market-news/sensex-slumps-nearly-2-500-points-in-6-days-key-reasons-for-this-selloff-11600931500520.html">Head of Research at Geojit Financial Services</a>, “The uncertainty regarding an economic recovery, the unabated rise in virus infections, and today being derivatives expiry day, all contributed to the negativity.” Analysts see further weakness in the market Sachin Jain, an analyst at ICICI Securities, said the year so far has been a tale of two halves with the first half in February and March witnessing a sharp unprecedented fall, while the second half since then witnessed a sharp recovery. “The correction in the range of 10-15%, particularly in mid-and small-caps, should not be construed as negative”. But Jain remained positive on the overall outlook of the market and recommended the buy on dips investment strategy. According to Jain at the moment, investors should avoid any aggressive contra trades, “as there are no positive signs and hence, we continue with our cautious approach on the markets. There could be some pullback from here as we have approached the ‘200 DMA’ which coincides with some important retracement levels as well. However, markets are likely to face selling pressure on pullback moves.” The Axis Direct daily <a href="https://simplehai.axisdirect.in/research/reports/fundamental">market note </a>also highlighted “Nifty is trading below 20 and 50 days SMA, which indicates negative bias in the short term. The daily strength indicator RSI has turned negative from the overbought territory and is below its reference line indicating sustained downtrend.” SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/upcoming-ipos-in-india-mazagon-dock-shipbuilders-uti-amc-and-likhitha-infrastructure/articleshow/78293918.cms" data-type="tilCustomLink">Three more IPOs to hit the Indian market next week — Mazagon Dock Shipbuilders, UTI AMC and Likhitha Infrastructure</a> <a href="https://www.businessinsider.in/finance/banks/news/hdfc-bank-and-sbi-customers-are-facing-upi-payment-glitches/articleshow/78293815.cms" data-type="tilCustomLink">HDFC Bank and SBI customers are facing UPI payment glitches</a>

Sensex down 7% this week, sees the second-worst fall this year— these are the reasons behind the sell-off

Greece is getting crushed today.
Stocks were down by as much as <a href="http://www.businessinsider.com/snap-election-fears-are-tanking-the-greek-stock-market-2014-12">11.2%</a> on Tuesday - the worst plunge since 1987.
Reuters reporter Jamie McGeever <a href="https://twitter.com/ReutersJamie/status/542321293597888512">tweeted a chart</a> showing the magnitude of this plunge relative to other drops.
It's not good, that's for sure. Check it out:
<div class="KonaFilter image-container display-table click-to-enlarge"><div><div class="image on-image"><a title_source="Jamie McGeever/Reuters" title_caption="" class="zoomin" href="https://static-ssl.businessinsider.com/image/5487077beab8ea0f1e9000d3-960/screen shot 2014-12-09 at 9.28.57 am.png"></a><a href="https://twitter.com/ReutersJamie/status/542321293597888512">Jamie McGeever/Reuters</a></div></div></div>
So what's going on in Greece?
This crash <a href="http://www.businessinsider.com/snap-election-fears-are-tanking-the-greek-stock-market-2014-12">follows the news</a> that Greece's presidential elections are being brought forward to December 17.
If the government does not get the supermajority needed to install a president, there's a chance there will be a general election. Right now, the radical Coalition of the Left is leading in the polls.
And investors appear to be getting really nervous about that.

This Chart Shows How Crazy Today's Greek Stock Market Crash Is

TCS, Infosys, L&T triplets tank on US troubles — wiping $10 billion off tech wealth

<ul><li><keyword id="4761491" type="PERSON" weightage="20" keywordseo="TCS-Share-Price">TCS share price</keyword> dipped to ₹1506.05 when markets opened today morning.</li><li>The overall market crash was so massive that it triggered the circuit breaker limit halting trade for 45 minutes.</li><li>This is the first time in seven years that TCS stock has dipped below ₹1600. The last time was in July 2013. </li><li>Over the last three months, TCS' value has dipped by ₹2 lakh crore ($27 billion). </li></ul>The stock of Tata Consultancy Services (TCS) hit a seven-year low as markets opened to a massive crash today morning. The company's share price dipped to ₹1506 as a massive global selloff affected Indian stock markets too. TCS' value has gone down from ₹8.3 lakh crore in December to ₹6.3 lakh crore in the last three months — a dip of 24.3% resulting in market cap loss of ₹2 lakh crore ($27 billion). 
 
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 The last time the company's share price went below ₹1600 was in July 2013. IT stocks in India were already bearish amid a global economic slowdown. Things took a turn for the worse as India locked down borders and suspended most active visas. TCS wasn't the only stock to crash in earning trading hours. In what is being called the Coronacrash, Asian markets — including Indonesia, South Korea, Thailand and the Philippines — halted trading as stocks plummeted the minute markets opened. In India, the <a href="https://www.businessinsider.in/india/news/trading-halted-for-45-mins-as-sensex-hits-lower-circuit-for-the-first-time-in-12-years/articleshow/74605048.cms">circuit breaker limit</a> was used for the first time in 12 years. It was triggered after Nifty50 crashed 10%. Trading was suspended for 45 minutes before markets reopened. However, TCS continues to be volatile. Amidst this melee, TCS temporarily recouped its position as India's most valued company back from <a href="https://www.businessinsider.in/business/news/heres-how-mukesh-ambani-lost-5-8-billion-in-a-day/articleshow/74572111.cms">Reliance Industries</a> which faced the double whammy of coronavirus and crude oil price crash yesterday. However, it was back to being in second place after markets closed yesterday, March 13. Even ₹4,500 crore couldn't fight the effects of the coronavirus The massive dip in TCS value comes after the company met on March 11 and declared an interim dividend of ₹12 per share — a total payout of ₹4,503 crore. In fact, the announcement of dividends did nothing to slow the stock's downward trajectory this week. 
 
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 It's not just stocks in India but markets all over the world that continue to remain volatile amid the coronavirus outbreak. The New York Stock Exchange (<a href="https://www.businessinsider.in/stock-market/news/the-new-york-stock-exchange-is-preparing-to-close-its-trading-floor-as-coronavirus-sweeps-through-new-york/articleshow/74599617.cms">NYSE</a>) may close its trading floor in the coming week to keep the Covid-19 virus from spreading. The chaos in overseas markets has an undeniable effect on IT stocks. Any further upheaval in US markets, like closing down the trading floor, could have a negative impact on IT stocks like TCS in India. The prolonged pandemic will have an effect on new client acquisitions and Kotak Securities corrected the revenue of IT companies by 2-4%. “In addition to and partly as a consequence of Covid-19, client health has started deteriorating across many verticals. Specifically, sharp rate cuts impact the banking vertical. We expected moderate improvement in spends among US banking clients at the beginning of the year. However, subsequent turn of events has all but eliminated this possibility,” the report said. TCS is only one of 783 stocks on the National Stock Exchange (NSE) to have hit its 52-week low this week. Yesterday, NSE and BSE saw the largest single-day fall of over 2,919 points since the 2008 financial crisis. See also: <a href="https://www.businessinsider.in/science/health/news/coronavirus-recovery-rate-at-54-as-doctors-race-to-find-a-cure/articleshow/74589618.cms">Coronavirus recovery rate at 54% as doctors race to find a cure</a> <a href="https://www.businessinsider.in/india/news/coronavirus-travel-restrictions-affect-everything-from-the-ipl-to-nris-on-vacation/articleshow/74591642.cms">Coronavirus travel restrictions affect everything from the IPL to NRIs on vacation</a> <a href="https://www.businessinsider.in/india/news/coronavirus-rattles-the-supply-chain-in-indias-largest-electronics-market-hitting-mobile-accessories-more-than-new-phones/articleshow/74484914.cms">Coronavirus rattles the supply chain in India’s largest electronics market, hitting mobile accessories more than new phones</a>

'Corona crash' wipes over ₹2 lakh crore from TCS share value in just 3 months

<ul><li>Indian benchmark stock indices, Sensex and <keyword id="2931774" type="PERSON" weightage="20" keywordseo="Nifty50">Nifty50</keyword>, dropped over a percent and hit a six-week low in trade today (March 18)</li><li>The second wave of COVID-19 infection dents sentiment in the world’s fifth-largest economy.</li><li>While the market seems to be fearing another crash in economic activity, the most recent data does not seem to indicate that.</li><li>The Nomura India Business Resumption Index (NIBRI) for the week ending 14 March was short of the pre-pandemic normal by just 4.3 percentage points.</li></ul>Investors lost about ₹3 lakh crore on the fifth straight day of losses in the Indian share market. The total loss in market capitalisation over the last five days has been nearly ₹9 lakh crore (about $124 billion), according to broking firm Reliance Securities. Indian benchmark stock indices, Sensex and Nifty50, dropped over a percent and hit a six-week low in trade today (March 18) as the second wave of COVID-19 infection dents sentiment in the world’s fifth-largest economy. While the sell-off in Indian shares hit nearly all sectors, tech stocks led by HCL Tech and Infosys and pharma stocks led by Dr Reddy’s Laboratories and Divi’s Laboratories were the worst hit. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty50 stock </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">March 18 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.79% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.37% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dr Reddy’s Lab </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.05% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Divi’s Lab </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero Moto </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.68% </td></tr></tbody></table> “A sharp rise in daily Covid-19 cases in India has raised apprehensions about sustainability of ongoing rebound in corporate earnings,” Binod Modi, head of strategy at Reliance Securities said. However, he believes that “stringent measures by the administration” can control the current wave of COVID-19 infections and the sell-off, in the meantime, may pull down shares to bargain prices. The day started on a positive note as the Federal Reserve seemed less worried about inflation in the US. A rise in inflation in the US would force the American central bank to increase interest rates, making it more attractive for global investors to pull money out of emerging markets like India and invest it in the US. This was the overwhelming fear in the run up to the Fed meet and it had come undone at the end of it. As the Fed Chairperson Jerome Powell downplayed the inflation risk in the US, the dollar weakened against all major currencies. A weaker dollar hurts Indian exporters. That would explain the sharp fall in marquee stocks like Infosys and HCL Tech (where the earnings expectations are still strong) as well as drug exporters like Dr Reddy’s Labs. But the confidence among the bulls wasn’t strong enough to overcome the fear of a resurgent pandemic. ITC was the top gainer among large-cap stocks today followed by Bajaj Auto, Hindalco and Bharti Airtel. The sell-off in the mid and small-cap segments was equally brutal as the large-cap indices Sensex and Nifty50. While the market seems to be fearing another crash in economic activity, the most recent data does not seem to indicate that. The Nomura India Business Resumption Index (NIBRI) picked up to 95.7 for the week ending 14 March. That’s a 4.3 percentage point short of the pre-pandemic normal. Essentially, the report dated March 15 showed that Indians are going about their business as usual, not bothered by the latest wave of infections. And that economic activity is nearly as good as it was before the pandemic. But as far as the share market goes, the bears seem to be in charge of the narrative. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/kishore-biyani-future-group-appeals-to-the-singapore-arbitrator-to-exclude-future-retail-from-the-fight-with-amazon/articleshow/81562016.cms">Ahead of Delhi High Court's decision, Future Group appeals to the Singapore arbitrator to exclude Future Retail from the fight with Amazon</a> <a href="https://www.businessinsider.in/business/startups/news/indian-spacetech-startup-pixxel-space-gets-7-3-million-funding-before-the-launch-of-its-first-satellite/articleshow/81562421.cms">Indian spacetech startup Pixxel gets $7.3 million in funding as it announces a new product even before the launch of its first satellite</a> <a href="https://www.businessinsider.in/business/telecom/news/airtel-adds-3-times-more-subscribers-than-reliance-jio-vodafone-idea-turns-positive-for-the-first-time-in-15-months/articleshow/81562851.cms">Airtel adds 3 times more subscribers than Jio while Vodafone Idea gets net addition first time in 15 months</a>

Investors have lost nearly ₹9 lakh crore in last five days as the spike in COVID-19 cases bursts the market bubble

<keyword id="19900618" type="General" weightage="100" keywordseo="investors" source="keywords">Investors</keyword>' wealth eroded by Rs 9.51 lakh crore on Monday morning, following a <keyword id="20028816" type="General" weightage="20" keywordseo="crash" source="keywords">crash</keyword> in equity <keyword id="19990226" type="General" weightage="20" keywordseo="markets" source="keywords">markets</keyword> where the benchmark Sensex tanked over 2,400 points, mirroring a sharp plunge in global peers. The 30-share BSE benchmark tanked 2,401.49 points to 78,580.46 in early trade. Following the sharp decline in equities, the market capitalisation of BSE-listed firms dropped by Rs 9,51,771.37 crore to Rs 4,47,65,174.76 crore (USD 5.35 trillion) during the morning trade. "The global market is reeling as bears enter with a cocktail of bad news. The fear of a reverse Yen carry trade, following an interest rate hike in Japan, was the initial catalyst. This was compounded by fears of a recession in the USA after extremely poor jobs data, which spooked market sentiment," said Santosh Meena, Head of Research, Swastika Investmart Ltd. Indian equity markets are witnessing signs of the first meaningful correction in global markets after an extended bull run, he added. In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading sharply lower. Japan's benchmark Nikkei 225 stock index plunged as much as 8.1 per cent early Monday, extending sell-offs that shook world markets last week as worries flared over the state of the US economy. The US markets ended significantly lower on Friday. "The rally in the global stock markets has been driven mainly by consensus expectations of a soft landing for the US economy. This expectation is now under threat with the fall in US job creation in July and the sharp rise in the US unemployment rate to 4.3 per cent. "Geopolitical tensions in the Middle East also are a contributing factor," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services. From the Sensex pack, Tata Motors, Maruti, Tata Steel, Infosys, Tech Mahindra and JSW Steel were the biggest laggards. On the contrary, Hindustan Unilever, <keyword id="20026907" type="General" weightage="20" keywordseo="sun-pharma" source="keywords">Sun Pharma</keyword>, Nestle and Asian Paints were trading in the positive territory. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,310 crore on Friday, according to exchange data.

Investors become poorer by Rs 9.51 lakh crore as markets crash

The <a href="http://www.bloomberg.com/quote/DFMGI:IND/chart">Dubai stock market</a> crashed today, with the main index falling over 6.5%, after being down 8% at one point.
<div class="KonaFilter image-container display-table"><div><div class="image"><a href="http://www.bloomberg.com/quote/DFMGI:IND/chart">Bloomberg</a></div></div></div>
The market has been in a bear market even before today, having fallen about 20% over the last month.
<a href="http://www.bloomberg.com/news/2014-06-24/arabtec-plunges-after-company-confirms-staff-cuts-dubai-mover.html">One big negative driver has been Arabtec</a>, a big construction company, whose shares have been plunging amid layoff rumors. The stock is down 50% this month.

Dubai Stock Market Crashes

Stock Market History and Crashes

Russia is already paying an economic price for its actions in Ukraine.
<a href="http://online.wsj.com/news/articles/SB10001424052702304815004579416321113236510?mg=reno64-wsj&amp;url=http%3A%2F%2Fonline.wsj.com%2Farticle%2FSB10001424052702304815004579416321113236510.html">The Russian Central Bank was forced to hike interest rates over night</a> from 5.5% to 7% in order to stem the plunging Russian ruble.
And the stock market has crashed.
The MICEX index, the country's benchmark index, is down 8% in early going.
<div class="KonaFilter image-container display-table"><div><div class="image"><a href="http://www.bloomberg.com/quote/INDEXCF:IND/chart">Bloomberg</a></div></div></div>
The market has already been quite bearish on Russian assets this year, particularly the ruble. But the prospect of sanctions and an expensive conflict are leading to swift punishment in the market.

Russian Stock Market Crashes

<div class="KonaFilter image-container display-table"><div><div class="image">REUTERS/Michael Dalder</div></div></div>
The Supreme Court will not hear <a href="http://www.businessinsider.com/supreme-court-denies-argentina-2014-6">Argentina's case against hedge fund creditors</a>, and Argentina's stock market is getting killed on the news.
The Merval Argentina Index is down more than 7%, and the Buenos Aires Stock Exchange Merval Index is down nearly 6%.
The Supreme Court's decision is a major blow to Argentina, as it will now be forced to default on its debts or negotiate with creditors, which include Paul Singer's Elliott Management.
Argentina's government <a href="http://www.businessinsider.com/singer-group-argentina-and-supreme-court-2014-6">has previously called</a> the creditors "vultures."
BI's Linette Lopez <a href="http://www.businessinsider.com/supreme-court-denies-argentina-2014-6">notes</a> that this ruling was unexpected. 
Here's the ugly action in the Merval index this morning:
<div class="KonaFilter image-container display-table"><div><div class="image">Google Finance</div></div></div>

Argentina's Stock Market Is Crashing

Stock Market Bubbles and Crashes

<ul><li>Today's stock market looks a lot like 1987's, but that doesn't mean an October crash is going to happen.</li><li>Ned Davis Research highlighted the key similarities and differences between now and 36 years ago.</li><li>"While there are several high-level similarities, not enough line up to conclude that a crash-like event is likely."</li></ul>The similarities between today's stock market and <a href="https://www.businessinsider.com/1987-black-monday-stock-market-crash-most-important-lesson-2017-10">the stock market of 1987</a> are striking, but that doesn't mean an October crash is going to happen, according to Ned Davis Research.A third-quarter correction and weakening market breadth are just a few things in common between the <a href="https://markets.businessinsider.com/index/s&amp;p_500">S&amp;P 500</a> today and 36 years ago. "The cap-weighted averages have posted strong gains year-to-date, but underlying market breadth has been weak. Inflation fears have pushed interest rates higher, prompting concerns over more rate hikes. Rate-sensitive sectors have underperformed. More recently, the dollar has strengthened, potentially hindering an earnings recovery. Heading into October, the S&amp;P 500 pulled back nearly 8% from its summer high," Ned Davis Research said."The above paragraph summarizes 2023. It also describes 1987." These similarities could be viewed by investors as grim given that <a href="https://www.businessinsider.com/1987-black-monday-stock-market-crash-most-important-lesson-2017-10">"Black Monday" occurred on October 19, 1987</a>, when the <a href="https://markets.businessinsider.com/index/dow_jones">Dow Jones Industrial Average</a> crashed 22.6% in a single day. But Ned Davis Research isn't expecting any "waterfall"-type decline this time around, because for as many similarities there are between today's stock market and the 1987 stock market, there are also plenty of differences.For one, circuit breakers were installed after the October 1987 crash, making a 20% decline "almost impossible," the note said. Circuit breakers halt trading when the S&amp;P 500 drops 7%, 13%, and 20%.And while the stock market has been moving in the same direction today as it did in 1987, the magnitude of its peak gain this year is off by a magnitude of nearly 20 percentage points.<div type="image" title="2023 stock market vs 1987" height="830" width="974" msid="104445324" hostid="261" sizebytes="49526"></div>The differences between today and 1987 also spill over into the broader economy."Of all the indicator types, perhaps the biggest differences between 1987 and 2023 are in the macroeconomic data. The economy and inflation accelerated throughout 1987. While economic data has exceeded expectations in 2023, the acceleration in activity has been much less," NDR said. Other macroeconomic differences include yield curve, US dollar, and job growth trends, according to the note.All this is to say that history doesn't repeat, it rhymes. And while there are plenty of commonalities between today and 1987, that doesn't mean a 1987-like crash in the stock market is imminent."While there are several high-level similarities, not enough line up to conclude that a crash-like event is likely," NDR concluded.

Today's stock market looks a lot like 1987's, but that doesn't mean an October crash is imminent

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Associated Press</div></div></div><ul class="summary-list"><li>Boeing's shares were down 1.3% in pre-market trading after slumping 6% yesterday</li><li>Asian and European stocks and US futures lost ground after British Prime Minister Theresa May's Brexit deal was resoundingly rejected by Parliament.</li><li>The British pound has swung between $1.33 and $1.30 this week as the Brexit drama has unfolded.</li></ul>Shares in Boeing slid 1.3% in premarket trading on Wednesday after slumping 6% yesterday, as <a href="https://www.bbc.co.uk/news/world-asia-47536502">European and Indian regulators joined their peers</a> in grounding Boeing 737 Max 8 aircraft after the model was involved in two lethal crashes in the space of five months. Asian stocks were down as traders reacted to global growth fears. The <a href="https://www.businessinsider.com/what-happens-now-theresa-may-brexit-deal-has-been-rejected-2019-3?r=US&amp;IR=T">resounding defeat of British Prime Minister Theresa May's Brexit deal in Parliament on Tuesday</a> added to gloomy sentiment, leaving European shares broadly flat.The pound pared its losses as currency traders were optimistic that the possibility that Britain crashes out of the EU without a deal looks more remote. "This is all very messy - there is not clear and clean way out of this - leaving uncertainty and caution the order of the day for sterling and other UK assets," said Neil Wilson, chief markets analyst at <a href="http://markets.com">markets.com</a>.<h2>Boeing</h2>Boeing's stock has lost more than $40 billion of market value from its 2019 peak, with two days of selling wiping out $26 billion of market value. More than a dozen airlines as well as the governments of UK, China, Indonesia, Australia, and Singapore have <a href="https://markets.businessinsider.com/news/stocks/boeing-stock-australia-singapore-ground-737-max-2019-3-1028022072?utm_campaign=browser_notification&amp;utm_source=desktop">grounded Boeing's 737 Max planes</a> after the crash of Ethiopian Airlines Flight 302 on Sunday, which killed all 157 people on board.<h2>Brexit drama</h2>The British pound has swung between $1.33 and $1.30 this week as the mood keeps shifting.Parliament will vote later today on whether to leave the EU with no deal. If the vote fails, lawmakers will vote Thursday on whether to extend the Brexit deadline on Thursday."We expect volatility in the pound to ease back today as it finds comfort in the prospect of avoiding a no deal and Article 50 being extended," said Jasper Lawler, head of research at London Capital Group.<h2>Here's the roundup as of 8.50 a.m. (4.50 a.m. EST):</h2><ul><li>Asian stocks closed lower with the SZSE Component Index down 2.5%, the Shanghai Composite Index down 1.1%, and Hong Kong's Hang Seng down about 0.5%.</li><li>European markets are mixed with the the Euro Stoxx 50 up 0.25%, while the FTSE 100 and DAX are almost flat.</li><li>US stocks are also mixed with Dow futures down 0.05%, while S&amp;P 500 and Nasdaq futures are trading slightly higher.</li></ul>Get the latest Boeing stock price <a href="http://markets.businessinsider.com/stock/BA-Quote">here.</a> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/elon-musk-tesla-roadster-space-spacex-orbit-2019-2">Elon Musk sent a $100K Tesla Roadster to space a year ago. It has now traveled farther than any other car in history.</a></h3> <div> </div> </div>

Boeing and Brexit drama are hitting market sentiment

<ul class="summary-list"><li>The <keyword id="11955088" type="UNKNOWN" weightage="60" keywordseo="stock-market-crash" source="Orion">stock market crash</keyword> of 1929 was a major <keyword id="11895235" type="UNKNOWN" weightage="60" keywordseo="stock-market" source="Orion">stock market</keyword> crash and was the single worst event in the history of the US.</li><li>The crash was a result of a myriad of factors including investor behavior, weak regulations, and international trade relations.</li><li>The stock market would not recover from the crash until nearly 20 years later.</li></ul>The stock market crash of 1929 is known as the most catastrophic event in the history of the US stock market. On Thursday, October 24, 1929 the stock market fell 11%. The losses continued on Monday, October 28 when the market fell another 13%. Then what became known as "Black Tuesday," October 29, the market fell another 12% and provided a spark for what would be known as the Great Depression. From that point, the stock market would not bottom out until the summer of 1932 and would not reach the peak of 1929 levels until the 1950s. In the years preceding the crash, much of the US was in the throes of the "Roaring Twenties." From 1920 to 1929, total wealth in the US more than doubled, and the unemployment rate averaged 3.7%. The economy was in a period of expansion, but consumers and companies were taking on debt and engaged in more <a href="https://www.businessinsider.com/what-is-speculation" target="_blank" rel="noopener">speculative financial behavior</a>, setting the stage for the crash and the Great Depression. <h2>What caused the 1929 stock market crash? </h2>The stock market crash of 1929 was not caused by one single factor but a <a href="https://www.businessinsider.com/what-caused-the-great-depression" target="_blank" rel="noopener">collection of events</a> on the part of investors, regulators, and international relations. Here's a quick rundown on some of the major causes: <ol><li>Overconfidence and oversupply: Investors and institutions were piling into the stock market during the early 1920s as the economy expanded. But what went unnoticed by most investors is the fact that many businesses were overproducing and the growth of the stock market did not accurately reflect the business reality at the time as many businesses were selling their goods at a loss.</li><li><a href="https://www.businessinsider.com/what-is-margin-trading-how-it-works" target="_blank" rel="noopener">Buying on margin</a>: Margin is the practice of taking a loan to buy <a href="https://www.businessinsider.com/what-is-stock" target="_blank" rel="noopener">stocks</a> which can amplify gains and losses. This gave investors more buying power to further <a href="https://www.businessinsider.com/what-is-inflation" target="_blank" rel="noopener">inflate</a> prices when the market was up, but put several in debt once the crash began. "Borrowing money from your stock broker back then was a common occurrence, and with as little as 10% down during those times. This 'overconfidence' also extended to industries who overproduced, which led to <a href="https://www.businessinsider.com/surplus-definition" target="_blank" rel="noopener">surpluses</a>, which ultimately drove supply prices and share prices down," says Joshua Lutkemuller, CFA, head of investment strategy at <a href="http://strongsideasset.com/" target="_blank" rel="noopener">Strongside Asset Management, LLC</a>.</li><li>Bad moves made by the Fed: The <a href="https://www.businessinsider.com/what-is-the-federal-reserve" target="_blank" rel="noopener">Federal Reserve</a> is charged with the job of creating a safe and stable financial system. One way that the Fed accomplishes this is by raising or lowering interest rates. Throughout the 1920s the Fed kept interest rates low and when the crash hit, they actually raised interest rates, which is the opposite of what economists would recommend today, making the situation much worse.</li><li>Bad moves made by Congress: In an effort to increase demand for domestic goods and offset some of the overproduction issues, Congress passed the United States Tariff Act of 1930 also known as the Smoot-Hawley bill. The impact of this bill backfired as multiple countries retaliated with their own tariffs on US goods and imports fell 40%. With demand lacking domestically and now abroad the losses on Wall Street continued.</li></ol>Quick tip: Generally, the Federal Reserve will raise interest rates to prevent the economy from overheating and keep <a href="https://www.businessinsider.com/causes-of-inflation" target="_blank" rel="noopener">inflation</a> in check and it will cut interest rates to encourage saving and investing to boost the economy.<h2>What are the effects of the 1929 stock market crash? </h2>The stock market would continue to fall through 1932, hitting the bottom at 89% below its peak in 1929 and the Great Depression began. "By 1933, almost half of America's banks had failed and unemployment rates were as low as 30% or 15 million people," Lutkemuller adds. For African Americans, it was even worse, as approximately half were out of work and racial violence would increase in parts of the South. It wouldn't be until 1954 that the <a href="https://www.businessinsider.com/what-is-dow-jones" target="_blank" rel="noopener">Dow Jones</a> would reach pre-crash levels. In an effort to put the US back on track, a series of moves were made in 1933 under President Franklin D. Roosevelt's New Deal.The New Deal was an expansive series of programs put in place, with several of the original protections and agencies that are still used today. The New Deal created the <a href="https://www.businessinsider.com/fdic" target="_blank" rel="noopener">Federal Deposit Insurance Corporation</a> (FDIC) to ensure the funds held in US banks up to a certain limit.It also created the <a href="https://www.businessinsider.com/securities-and-exchange-commission" target="_blank" rel="noopener">Securities and Exchange Commission</a> (SEC) to protect investors and oversee the stock market. The FDIC was created because as the stock market fell, thousands of people began withdrawing their money from banks. "Banks didn't have adequate reserves to meet these demands, due to the funds being invested in the market. This sent the market into even more of a spiral," adds Lutkemuller.Quick tip: During the 2008 recession, this limit was raised from $100,000 to $250,000. By 2010 the $250,000 FDIC limit was made permanent as a part of the Dodd-Frank legislation. <h2>The financial takeaway</h2>Because the economy and the stock market are linked to so many complex and fluid factors like international relations, consumer behavior, and regulations there was no single cause for the crash. But these factors are even more complex today, due to the rise of cryptocurrencies and investment opportunities and technology. Lutkemuller says that market crashes are not as easy to forecast as you might think. "Hindsight bias is very common when looking back at previous market crashes, but it is very hard to predict in real-time." It is also important to point out that while buying and holding for the long-term is generally considered solid financial advice today, it may not have been the best idea in the years directly after the crash in 1929. "We have been blessed with an extraordinary bull market the past decade," Lutkemuller said. "But let's not forget that it took almost 25 years for the stock market to fully recover to it's September 1929 peak."<a data-type="5f072cc54dca681c8710fbb8">What is a recession? How economists define periods of economic downturn</a><a data-type="5f6906685146725aba5a45d7">Why double-dip recessions are especially difficult, and what they mean for the general state of the economy</a><a data-type="5f05dd5a3ad86123bd541aca">Depressions and recessions differ in their severity, duration, and overall impact. Here's what you need to know.</a><a data-type="6015ff47aa63e0592f3157d3">'Buy the dip' means purchasing a promising stock when its price drops, assuming a fast rebound and future profits</a>

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