Trump 'medicine' shocks stock markets

The S&P 500 fell 20% on an intraday basis from its February record closing high, while the blue-chip Dow was down nearly 17% from its December all-time high.

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Foreign portfolio investors (FPIs) continued their selling spree, offloading shares worth Rs 9,040.01 crore, while domestic institutional investors (DIIs) were net buyers, purchasing shares worth Rs 12,122.45 crore, according to provisional BSE data.

Amid the broad-based selling, investors' wealth got eroded by Rs 14 lakh crore, bringing the total market capitalization down to Rs 389.25 lakh crore. Intraday, the loss peaked at over Rs 20 lakh crore.

The market breadth was heavily negative, with 3,515 stocks declining against just 570 gainers on the BSE. Broader indices also suffered, as the BSE Midcap and Smallcap indices fell 8.16% and 10.58%, respectively, during intra-day trade. However, both indices recouped more than half of their losses, ending the day lower by 3.46% and 4.13%, respectively.