Indian stock markets tumbled sharply as US tariffs and weak earnings triggered panic, erasing ₹3 lakh crore in minutes.

• Trump's 25% import tariff on India and oil penalty spooked markets, hurting capital inflows and weakening the rupee outlook.
• Fed gave no hint of rate cuts, raising fears of prolonged high rates and a stronger US dollar draining foreign investments.
• FPIs sold ₹42,000 crore in July amid high valuations, rupee weakness, and underwhelming Q1 earnings across key sectors.