Market Crash: Sensex Falls 2,400 Points, Nifty at 24,300

Today, Indian stock markets took a big hit as global events shook investor confidence. Here’s why:

1. Global Market Slump: Asian markets, including Japan’s Nikkei, fell sharply. The Nikkei dropped over 7% earlier in the day. Other major indices like South Korea’s Kospi and Australia’s ASX200 also saw declines.
2. US Stock Futures Decline: US stock futures fell, with Dow Jones futures down by 0.96%, S&P 500 futures down 1.6%, and Nasdaq-100 futures down 2.5%. The Nasdaq and S&P 500 have been losing ground for weeks.
3. Weak US Job Data: New jobless claims in the US reached an 11-month high, raising concerns about the US economy and potential recession. Goldman Sachs has increased the likelihood of a US recession to 25%.
4. Geopolitical Tensions: Rising tensions between Israel and Iran have heightened market uncertainties. Recent violent events in the Middle East are adding to the market stress.
5. Technical Factors: The Nifty 50 index struggled with technical levels, breaking below key support levels. This could lead to further declines if the index doesn’t stabilize.

Stock Market Summary:

• Sensex: Fell 2,401.5 points (2.9%) to a low of 78,580.46.
• Nifty50: Dropped below 24,300, falling 421 points (1.7%) to a low of 24,297.
• Broader Markets: Nifty MidCap 100 and SmallCap 100 indices fell by 2.3% and 2.5%, respectively.

Investor Advice: It’s a good time to be cautious. The current market situation suggests waiting for stability before making any investment decisions.

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