New Delhi, April 7 -- Indian stock market benchmark indices - the Sensex and Nifty 50 - witnessed a sharp decline on Monday, mirroring a global sell-off triggered by escalating fears of a recession in the United States. The concerns stem from mounting trade tensions, following a fresh round of reciprocal tariffs imposed by US President Donald Trump, fueling fears of a prolonged global trade war.

As of April 7, both the Sensex and Nifty 50 were trading nearly 4% lower. The broader markets bore the brunt of the sell-off, with the Nifty Smallcap 100 and Nifty Midcap 100 indices plunging over 5% each.

The sharp correction across global equity markets has revived memories of 'Black Monday' - October 19, 1987 - which is widely considered the ...