Indian markets, including the Nifty, have experienced a decline below 26,000 due to profit-booking, global uncertainty, and significant foreign institutional investor (FII) outflows. Proposed US tariffs on imports have negatively impacted market sentiment, leading to aggressive foreign selling. Experts suggest this correction was overdue after recent record highs, with sectors like oil, gas, IT, and energy facing pressure. The market is currently in a consolidation phase, with large-cap stocks seeing notable profit-taking.