The Nifty falls below 22,500, and the Sensex falls 700 points from the day's peak.

With Dow Jones futures down more than 400 points, Wall Street futures were trading with sharp cuts, indicating a tumultuous start to the trading week.

As profit-booking at the close of the session and negative global cues tempered market mood, benchmark equity indices Sensex and Nifty reversed early gains and fell into the red on Monday.

The Nifty 50 fell below the 22,500-mark to a low of 22,429.05. The BSE Sensex fell 709.32 points from its intraday high to a low of 74,031.93.

The significant drop in US stock futures, fresh worries about trade tensions, and poor Asian market signals were the reasons given by market participants for the selloff.