'Tariffs are beautiful'

Stock markets crumbled Monday with benchmark Sensex sinking by 2,226.79 points - its steepest single-day decline in 10 months as a global market carnage following US President Donald Trump's tariff hikes and retaliation from China fanned fears of economic slowdown.

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The country's stock markets suffered their worst session in 10 months Monday, as a wave of selloffs was triggered by US President Donald Trump's tariff announcement. The move heightened investors' fear over a prolonged trade war and tightening of global liquidity, prompting a shift away from riskier assets. Concerns over possible retaliation from China added to fears of a global slowdown. Asian markets bore the brunt of the fallout-Hong Kong's Hang Seng index plunged over 13%, Tokyo's Nikkei 225 fell nearly 8%, Shanghai SSE Composite dropped more than 7%, and South Korea's Kospi declined over 5%. European markets also faced intense selling pressure, with declines reaching up to 6% across major indices. While experts in US termed the crash worse than expected, those in India believe the country may face a relatively limited impact as compared to other countries, and advised investors to remain vigilant in the current climate. Adding to investors' woes, Trump posted on X, "Tariffs are a very beautiful thing to behold."