New Delhi, April 7 -- Indian equity markets witnessed a broad-based meltdown on Monday, April 7, as the Nifty Midcap 100 index crashed over 7 percent, tracking a deep sell-off across global markets. Sentiment turned sour as fears of a full-blown global trade war raised the spectre of a potential recession in the US and other major economies, prompting widespread liquidation across sectors.

The Nifty Midcap 100 has now fallen 23 percent from its all-time high of 60,925.95 recorded in September 2024. Monday's sharp correction reflects rising investor anxiety and a decisive shift toward risk aversion amid global uncertainty.

The carnage was not limited to the midcap space. Benchmark indices also plunged around 4 percent each, in line with ...