Stocks slump amid Trump tariff jitters

A day before the US is expected to unveil sweeping new reciprocal tariffs, the Indian markets were left scalded by investor anxiety about a fresh wave of trade turbulence, even as other Asian markets that were bloodied on Monday over similar fears staged a recovery.

- Dipti Sharma

MUMBAI:

On Tuesday—the worst day for the Indian markets since 28 February—benchmark indices tumbled more than 1.5%, reflecting jitters around the upcoming announcement and leaving investors poorer by more than ₹3.4 trillion.

The S&P BSE Sensex dropped 1.8% to settle at 76,024.51, while peer Nifty 50 closed 1.5% lower at 23,165.70. After a sharp 14% correction, the markets are now down about 10% from their 26 September peak.

Some experts are of the view that the market might see more volatility after the tariff announcements that are due today, but it is likely to be short-term with several positives on the horizon and with other news taking centre stage eventually.