On Tuesday, BSE Sensex and NSE Nifty dived in pre-opening sessions after the Wall Street suffered record-breaking losses.
The BSE Sensex was down by 2.17% at 34,0002.60 and the Nifty plunged by 3.32% at 10,312.50.
Okay, fine, if all these numbers and percentages don’t interest you, the Twitterati are here with their jokes as they think up bizarre reasons for the market crash.
— Mokshak Mehta (@mokshakbm) February 2, 2018
The reason #sensex is falling because our politicians are discussing chai & pakoras in Parliament
— Atul Khatri (@one_by_two) February 6, 2018
#Sensex शेयर बाजार crashes is a classic hallmark of “Tail Spin POT Economy”.
Please don’t blame Chowkidar! pic.twitter.com/NabjXPW8Iz
— Desi PoliTicks (@DesiPoliticks) February 6, 2018
— srikanthreddy (@srikanth6699) February 6, 2018
Dear Taimur, please hold the #Sensex with your gym toned biceps. Please. Now.
— Alka-line (@alkagurha) February 6, 2018
— Paras Tandon (@parastandon) February 6, 2018
But, soon after the Budget announcement on February 1, Indian investors have lost Rs 9.6 lakh crore in the last three days.
Why did it happen?
This was a domino effect after The Wall Street’s record-breaking loss on Monday. US stocks took a dive in highly volatile trading, as both the S&P 500 and Dow Industrials jumped more than 4.0 per cent. Reuters reported this the 1,600-point drop was the biggest intraday decline in Wall Street history.