The S&P BSE Sensex crashed 1,053 points, or 1.47 per cent, to end at 70,371. The Nifty50, on the other hand, breached below the 21,250-mark to settle at 21,239, down 333 points or 1.5 per cent.
IndusInd Bank was the top loser on the 30-pack index, down over 6 per cent, followed by SBI, HUL, HDFC Bank, Asian Paints, Bajaj Finance, Tata Steel, Tata Motors, L&T, Reliance Industries, ITC, JSW Steel, M&M, Wipro, and Kotak Bank.