Sensex Drops Over 1,500 As Recession Fears In US

New Delhi: Indian stock markets faced one of the worst falls on Monday with both the Nifty and Sensex registering large slides during the opening trade.

Sensex fell 1,533.11 points to 79,448.84 in early trade, while Nifty tumbled 463.50 points to 24,254.20.

The benchmark indexes Nifty 50 and S&P BSE Sensex snapped their longest weekly winning streak in over 14 years on Friday. US elections in November are likely to keep investors on edge

Rupee also fell to an all-time low of 83.80 against the US dollar. Data released post market hours on Friday showed that US jobs growth slowed more than expected in July, sparking fears of economic slowdown and weighing on global equities.

The markets are also shaky due to the tense situation in the Middle East following the assassination of Hamas leader Ismail Haniyeh in Tehran allegedly by Israel.