The Indian stock market fell for the second consecutive session today, as global markets fell on recession fears and the threat of a full-fledged trade war following President Donald Trump's 'Liberation Day' announcements on April 2. The Sensex fell 3000 points to 72,329, while the Nifty dropped 971 points to 21,932. Investor wealth fell by Rs 19 lakh crore to Rs 383.95 lakh crore today, compared to Rs 403.34 lakh crore the previous session.

All Sensex stocks were trading in the red. Tata Steel, Tata Motors, HCL Tech, L&T, Tech Mahindra, and Infosys were the biggest losers, dropping up to 10%. Midcaps and smallcaps were trading heavily in the red during the current session. On the BSE, the midcap index dropped 1695 points to 38,813 and the small-cap index fell 2525 points to 43,341.

On a sector level, the market was also a sea of red. All 19 BSE indices fell, with IT, auto, metals, and capital goods being the biggest losers.IT indices fell for the third consecutive session after Trump announced tariffs on trading partners on April 2. The BSE IT index dropped 1851 points to 31,223 from the previous close of 33,075.

Similarly, the Nifty IT index fell 5.66%, or 1893 points, to 31,617. The market breadth was in the red. 3065 of the 3438 stocks traded went down in value. Approximately 262 stocks could rise, while 111 stocks remained unchanged.

On Friday, US markets fell, with the NASDAQ Composite Index dropping 962 points, or 5.82%, to 15,587 and the S&P 500 index closing 322 points lower at 5074.The Dow Jones Industrial Average dropped 2231 points, or 5.50%, to 38,314 on Friday.

Asian Marketplaces

Meanwhile, Japanese stock futures trading was temporarily halted today due to a circuit breaker.Japan's Nikkei was down 2278 points to 31,254. Hang Seng dropped 2396 points to 20,453. The Taiwan Weighted index fell 2063 points to 19,234.