The domestic stock markets tumbled in morning trade, losing a huge 608 points to slip below the 26,000-mark, on heavy, across-the-board selling by investors.The Sensex later recovered significantly, but was still down a good 305 points, at 25,961 a short while ago. Similarly, the Nifty at the National Stock Exchange had slumped 96 points, to 7,859 a short while ago.At the forex market, the rupee also fell sharply, plunging 74 paise, or 1.1 per cent, to 66.50 against the dollar in morning trade.The rupee fell on strong dollar demand from banks and importers, gains in the dollar against major global currencies, and sliding domestic equities.