The downturn comes after US President Donald Trump announced wide-ranging tariffs on imports from partner and adversary nations alike, spurring fears of a recession in US and trade wars worldwideread moreThe benchmark Indian indices took a hit from Donald Trump’s tariff announcements, starting the day in red on Thursday (April 3).The 30-share BSE Sensex started the day 805.58 points lower at 75,811.86. The broader Nifty 50 index opened in the red by 182.05 points at 23,150.30.The markets had hinted at a worse start in the pre-opening session, where Sensex was down 1500 points and Nifty 50 trailed 200 points lower at one point.AdvertisementThe IT sector, one of the biggest service exporters to the US, took the strongest blow due to the additional duties levied. TCS, Tech Mahindra, HCLTech, and Infosys were among the top laggards in both Sensex and Nifty 50 packs.More from India
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Trump claims the Great Depression would never have happened if US levied tariffsTrump tariffs weigh on market sentimentThe downturn comes after US President Donald Trump announced wide-ranging tariffs on imports from partner and adversary nations alike, spurring fears of a recession in US and trade wars worldwide.The Trump administration has announced 26 per cent reciprocal tariffs on India, saying New Delhi imposes high import duties on American goods, as the Donald Trump administration aims to reduce the country’s trade deficit and boost manufacturing.The move is likely to affect India’s exports to the US. However, several experts have noted that New Delhi is better-placed than its competitors, who also face increased levies.With inputs from agenciesTagsDonald TrumpStock marketTariffEnd of Article

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Indian stock markets take hit from Trump tariffs: Sensex down 800 points, Nifty opens below 23,200