Indian stock markets saw sharp falls, similar to the COVID-19 crash, due to fears of a U.S.-China trade war and a possible recession.
Market Performance: Sensex dropped 2,227 points (2.95%) to 73,138; Nifty fell 743 points (3.24%) to 22,162.
Small and midcap stocks suffered more than bluechips.
Key Stocks Hit: Tata Steel (-7.73%), L&T (-5.78%), Tata Motors (-5.54%) due to Jaguar Land Rover (JLR)’s halted U.S. exports; Kotak Mahindra Bank (-4.33%), M&M (-4.11%), Infosys (-3.75%).
U.S. President Trump threatened more tariffs on China
Markets in Japan, South Korea, Hong Kong, and China also crashed.
Monday’s fall isn’t among India’s top 5 biggest drops—COVID-19’s 13.2% fall in March 2020 was the largest.
U.S. Market Reaction: Early U.S. markets showed mixed signs; NASDAQ down 1.99%, Dow Jones down 2.7%, S&P 500 down 0.31%.
Trump’s tariff threats intensified fears, impacting global markets and causing widespread volatility.
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