Why did Sensex fall 1,500 points today & erase ₹9 lakh crore wealth in minutes?

Sensex dropped 1,500 points in early trade on Thursday, erasing ₹9-lakh-crore investor wealth in minutes. Donald Trump's warning to hit Iran "extremely hard" in the next 2-3 weeks, and the resultant rise in crude oil prices, caused the Sensex to drop. Foreign investor-led selloff, increased volatility and pressure on banking stocks over RBI's rupee-focused decisions also contributed to the dip.