Stocks Tumble on Global Trade War Concerns

Benchmark indices recorded their fifth consecutive session of declines on Tuesday after a raft of tariffs introduced by US President Donald Trump stoked concerns of a global trade war, and raised fears of its impact on India.

- SUNDAR SETHURAMAN

Trump's imposition of a 25 percent tariff on steel and aluminum imports, and his reiteration of threats to levy reciprocal tariffs against countries that have taxed US imports weighed on investor sentiment.

Experts said Trump's threat could make India susceptible to reciprocal tariffs imposed by the US.

The Sensex closed at 76,294, down 1,018 points, or 1.3 percent. The Nifty 50 also ended lower at 23,072, down 310 points, or 1.3 percent. Both indices, after declining 3 percent over the past five sessions, are now approaching fresh eight-month lows. The Nifty Midcap 100 fell 3 percent to its lowest close since June 4, 2024, while the Nifty Smallcap 100 tumbled 3.5 percent, approaching "bear" market territory.