Watch: Sensex dives 550 pts, Nifty tests 10,400; investors lose Rs 2.24 lakh crore

An overnight selloff in US stocks wreak havoc on Dalal Street, with benchmark indices falling over 1.5 per cent on Friday morning amid concerns that the rising US bond yields may intensify the ongoing carnage globally. Selling was seen across the board, with eight of every 10 stocks trading on BSE were in the red. A total of Rs 2.24 lakh crore worth of investor wealth was eroded within first few minutes into trading.