Three reasons why market tanked over 4% from lifetime highs in 7 sessions

With the benchmark indices extending losses for the fifth straight session on Friday, the market seemed to have entered the correction zone after a record run of the last few months. The S&P BSE Sensex and the Nifty50 dipped over 4% from the record highs they hit on August 2.  

On Friday, the Sensex tanked as much as 336 points to 31194, while the broader Nifty50 slipped 115 points to 9,704 in intraday trade. Both the indices had hit their respective lifetime highs of 32,686 and 10,137 on August 2. 

Below are three reasons that spooked the investors on