Indian equity markets suffered their worst losses ever, falling over 10% as large-scale selling by foreign institutional investors accelerated declines. The Reserve Bank of India's decision to keep interest rates unchanged surprised analysts and added pressure. Weak global cues, including circuit breaker triggers in the U.S. and a GDP contraction in the U.K., exacerbated India's falls. Experts said recovery from this crisis could take 3-4 years as deleveraging of yen carry trades and a global liquidity crunch drive further selling.