Melting portfolios across markets as equities, currency and crypto saw a collapse in Monday's trade. Sensex dropped over 1400 points while Nifty lost 16,000 conclusively as the bulls took a back seat.
Traders raised bets that the Fed will make money more expensive by raising rates by 75 bps as it concludes its been on June 14-15. The fear gauge on Dalal Street or the VIX soared 10% as midcaps and smallcaps also hurled lower by over 2%.
Banks and metals were hit the hardest with newly listed LIC tumbling below the Rs 700 mark.