Mumbai, Feb 9: The markets on Friday took a 407-point plunge after American markets reported a continuous downfall of indices. Many benchmark indices reversed the gains at Bombay Stock Exchange (BSE). The Sensex fell 407.40 points or 1.18 percent to 34,005.76 and the Nifty plunged 121.90 points or 1.15 percent to 10,455. Also Read - Stock Market Crash: Sensex Nosedives 1,115 Pts, Nifty Tanks Below 10,850-mark in Closing Session

Earlier, Indian stock markets opened in red tumbling to two-month low on Friday after US stocks fell dramatically around 4 per cent. While the Sensex opened over 500 points down at 33,911.17, Nifty also opened on a negative note. Also Read - Happiest Minds Technologies Makes Bumper Market Debut, Lists At 111% Premium Over Issue Price

US stocks have plunged more than 1,000 points for the second time this week and the stock market was now in a correction — 10 per cent off its record high just two weeks ago, the media reported. Also Read - Sensex, Nifty Tick Higher in Opening Trade

The Dow finished with a decline of 1,033 points or 4.15 per cent to 23,860.46 on Thursday, the second-worst point drop in history, eclipsed only by Monday’s historic 1,175-point nosedive, reports CNN .

The S&P 500 dropped 100.66 points, or 3.75 percent, to 2,581.00. The Nasdaq Composite Index tumbled 274.82 points, or 3.90 perc ent, to 6,777.16.