Around 9 am, during the pre-open session in Indian markets, the 30-share BSE Sensex was down 4.29 per cent at 72,131.13. The broader Nifty 50 index had noted an even more staggering drop, with a loss of 6.19 per cent at 21,487.60read moreBenchmark Indian indices rushed headfirst into the global stock market bloodbath on Monday (April 7), following key developments around tariffs hikes imposed by the US government on all major trading partners.The 30-share BSE Sensex opened at 71,449.94, sinking a staggering 5.19 per cent or 3914.75 points since last week’s closing levels.The broader Nifty 50 index also fell 5 per cent or 1146.05 points since the previous session to open at 21,758.40.AdvertisementShares of Tata Group companies took massive hits— at 9:30 am, Tata Motors was down over 11 per cent while Tata Steel had tanked over 8 per cent.More from India
Stock market crashes! Bears claw away 1,200 points from Sensex, Nifty below 23,300
Indian stock markets take hit from Trump tariffs: Sensex down 800 points, Nifty opens below 23,200
Asian stocks fluctuate as Trump’s tariff announcement nearsIT sector stocks also took a heavy beating, with HCL Tech, Infosys, and Tech Mahindra all falling around 6 per cent each.Behind the beatdown: Trump tariffsBy far, the biggest reason for the markets getting bulldozed was the Trump tariffs hike. After Trump announced “reciprocal tariffs” on almost all of the United States’ trading partners, China hit back with 34 per cent tariffs on all goods imported from US. Those levies are set to come into effect from April 10.During early trade,
Asian markets, tracking Wall Street losses seen on Friday and on exponentially raised fears of a painful trade war, took a steep fall.Tokyo Stock Exchange’s Nikkei index, which had opened in the red by 625.61 points at 33,154.97, further sank to hit a 52-week low of 30,792.74 during early trade— down 8.84 per cent from the previous session’s closing level of 33,780.58.Taiwan Stock Exchange weighted index, the Taiex, plunged 9.8 per cent at the open.AdvertisementBoth Japanese and Taiwanese markets hit circuit breakers today.Markets in Hong Kong and China reacted not only to Donald Trump’s tariffs, but also Beijing’s retaliation to these duties.The Hang Seng Index dropped 9.28 per cent, or 2,119.76 points, to 20,730.05, although the Shanghai Composite Index shed only 4.21 per cent. South Korea’s Kospi was off 4.8 per cent in early trade.With inputs from agenciesTagsnifty fiftySensexStock marketTariffEnd of Article
This article is from:
