The Indian market got hit by an IT earnings air pocket and a tariff scare at the same time. Nifty IT fell 2.1%, Wipro slid 3% and LTIMindtree dropped 7% after weak Q3 prints, dragging Sensex 1,100 pts

What happened: The Sensex and Nifty extended losses on Friday as crude oil prices surged and foreign investor selling resumed, with smallcap and midcap stocks leading declines. Key numbers: Sensex fell 1,100 pts from its day's high; Nifty below 22,450; nearly Rs 10 lakh crore in market value wiped out. Why it matters: Oil supply concerns and geopolitical tensions weighed on investor sentiment, and the return of foreign selling added pressure to the selloff.

The Sensex and Nifty extended losses on Friday as crude oil prices surged and foreign investor selling resumed, with smallcap and midcap stocks leading declines.

Oil supply concerns and geopolitical tensions weighed on investor sentiment, and the return of foreign selling added pressure to the selloff.