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IT stocks, which earn a major part of their revenue from the US, fell sharply on Monday amid fears of a likely recession after tariff hikes by the Trump administration rattled global markets. The 30-share BSE Sensex crashed 2,226.79 points or 2.95% to settle at 73,137.90, recording its third day of decline. During the day, the index slumped 3,939.68 points or 5.22% to 71,425.01.
The NSE Nifty tumbled 742.85 points or 3.24% to settle at 22,161.60. Intra-day, the benchmark dropped 1,160.8 points or 5.06% to 21,743.65.
Shares of IT-enabled services…
