Investors lose ₹7 lakh crore in minutes as Sensex tanks 1,600 points

Over ₹7 lakh crore was wiped off the total market capitalisation of BSE-listed companies at market open on Thursday after the Sensex dipped by more than 1,600 points. The sharp decline erased most of investors' ₹9.6 lakh crore gains from the past three-day rally. Escalating tensions in the Middle East, rising global prices and a weakening rupee drove the fall.