Sensex tanks 500 points, Nifty falls below 10,400 mark post bloodbath in Wall Street amid rising interest rate fears

Indian stock markets witnessed a huge slide in opening trading session on Friday after US stock market took a massive nosedive on Thursday in another dramatic session. 

BSE Sensex fell over 500 points while the broader Nifty went below the 10,403, down 173 points in the opening trading session on Friday.

The S&P 500 slumped 3.8 percent on Thursday, while the Dow dropped 4.2 percent as losses accelerated late in the trading day. The rupee weakened to a fresh two-month low against US dollar after fears of higher interest rates by the US Federal Reserve led to a fresh plunge in global markets.

The Dow finished with a decline of 1,033 points or 4.15 percent to 23,860.46 on Thursday, the second-worst point drop in history, eclipsed only by Monday's historic 1,175-point nosedive.