Indian stock market benchmarks, Sensex and Nifty 50 crashed by 3% each in intraday trade on Monday, August 5. This decline mirrored the global trend, fueled by mounting fears of a US recession and rising tensions in the Middle East, which kept investors on edge. The overall market capitalization of firms listed on the BSE dropped to nearly ₹442 lakh crore from nearly ₹457 lakh crore in the previous session, resulting in an investor loss of nearly ₹15 lakh crore in just one session. The fears of a looming recession in the US severely impacted global investors' risk appetite. The July payroll data released last Friday revealed that the US unemployment rate jumped to a near three-year high of 4.3% last month, up from 4.1% in June. This marked the fourth consecutive monthly increase in the unemployment rate. Additionally, rising tensions in the Middle East added to the global market pressure. Japan's Nikkei 225 share index plunged nearly 13%, its worst one-day loss since 'Black Monday' in 1987, as investors, concerned about the US economy's potential worse-than-expected condition, dumped a wide range of shares. Watch DP Singh, Dy MD & Jt. CEO, SBI Mutual Fund, discusses investment strategy in this volatile market.