Indian markets experienced a significant sell-off, with the Nifty falling below key technical levels and wiping out substantial investor wealth. The decline was broad-based across all sectors, led by metal stocks, with major companies like Reliance Industries and IT majors also contributing to the losses. This downturn is attributed to ongoing uncertainty surrounding India-US trade relations and upcoming economic data, impacting export-oriented stocks. Global markets showed mixed performance, influenced by inflation data and trade policy assessments.