Asian markets tumble, Indian equities plummet over Trump’s sweeping tariff policy impacting 180+ countries
Mumbai, April 3 – A fresh wave of global market panic has emerged after former U.S. President Donald Trump announced aggressive tariffs on over 180 countries, including major economies like China (34%), India (26%), and the European Union (20%). The move has sent shockwaves through equity markets worldwide, with Dalal Street opening sharply lower on Wednesday morning.
Sensex, Nifty Open With Heavy Losses
At 9:15 AM IST, India’s benchmark BSE Sensex plunged 805 points, opening at 75,811, while the Nifty 50 index sank by 182 points to start the day at 23,150, reflecting investor anxiety over the escalating global trade tensions.
During the pre-opening session, the Sensex had already slipped below the 76,000 mark, while the Nifty showed a 108-point decline to trade at 23,223.
Market experts warn of continued volatility, driven by uncertainty in global trade policies and sharp corrections in technology and financial stocks.
Asian Markets Reel Under Pressure
Asia bore the brunt of early sell-offs:
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Nikkei 225 (Japan): -3.02%
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Topix Index: -3.19%
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Kospi (South Korea): -1.57%
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Kosdaq: -0.55%
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Hang Seng Futures (Hong Kong): Indicate weak start
Meanwhile, Gift Nifty traded near 23,140, nearly 300 points lower than its previous close, signaling a gap-down opening for Indian equities.
Wall Street Snapshot: Mixed Session Before Tariff Bomb
Trump’s tariff announcement came after the U.S. markets closed on Wednesday, which initially ended in green:
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Dow Jones: +235.36 pts (0.56%) at 42,225.32
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S&P 500: +37.90 pts (0.67%) at 5,670.97
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Nasdaq Composite: +151.16 pts (0.87%) at 17,601.05
Some tech giants showed gains:
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Tesla: +5.3%
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Amazon: +2%
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Nvidia: +0.25% (despite closing gain, pre-market futures indicate -5.68%)
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Apple: -7.14%
U.S. Stock Futures Crash After Tariff News
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Dow Futures: -1,069 pts (-2.5%)
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S&P 500 Futures: -3.6%
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Nasdaq 100 Futures: -4.5%
Analysts expect these drops to heavily influence Thursday’s global trading sessions, including Indian bourses.
Commodity Watch: Gold Hits All-Time High, Crude Plunges
As investors flocked to safe-haven assets:
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Spot Gold: Surged 0.4% to $3,145.93/oz, touching a record $3,167.57/oz during the session
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U.S. Gold Futures: Up 0.1% to $3,170.70
Meanwhile, crude oil prices declined due to concerns over falling global demand amid rising trade tensions:
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Brent Crude: Down 2.63% to $72.98/barrel
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WTI Crude: Down 2.76% to $69.73/barrel
What to Expect Ahead?
With Trump’s tariff bombshell shaking investor confidence globally, short-term volatility is expected to remain high. Analysts advise traders to watch closely for:
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Official response from impacted economies like India, China, EU, and Canada
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Further movement in commodity prices
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Central bank commentaries and potential stimulus actions
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
