Why is market falling today? Sensex tanks 650 pts, Nifty below 23,900; 4 key triggers behind D-St selloff

Indian benchmarks Sensex and Nifty fell sharply, with Sensex dropping around 650 points and Nifty slipping below 23,900, breaching 76,400 at the day's low. The selloff was driven by a steep 10 percent crash in South Korea's Kospi index, renewed US Fed rate hike expectations (88 percent probability for December per CME FedWatch), a selloff in IT stocks with TCS, Infosys, Wipro, and HCLTech falling at least 3 percent each after Accenture trimmed revenue guidance, and a weaker rupee at 94.83 against the dollar. Biggest BSE losers included Infosys, TCS, Tata Steel, Tech Mahindra, and Adani Ports, declining up to 3.5 percent.