American President Donald Trump has announced a mutual tariff on India and other countries around the world and its impact is being seen as a major decline in Asian markets. Trump has also dropped tariff bombs on India and imposed 26 percent tariff. Due to which the effect of negative global signs can be seen in the Indian stock market on Sensex-Nifty.
Is this a matter of concern for the Indian stock market?
Talking about the last trading day, the Sensex and Nifty were seen walking in a strong position, but after the announcement of Trump’s tariff, today i.e. on Thursday, the Asian markets can create chaos.
Did mutual tariff cause fear in stock markets?
US President Donald Trump has created a stir worldwide by announcing a mutual tariff and has named this day as Mukti Day. Donald Trump has released a complete list stating which country will be imposed on how much tariff. According to the new tariff rates, the US will impose 34% on China, 20% on the European Union, 24% on Japan and 26% on India. However, Trump’s announcement on tariff leads to nervousness in the Asian markets and the Japanese stock market seems to be in the worst position.
Panic in Asian markets
Japan’s Nikkei index declined by more than 4 percent after Donald Trump announced a concessional mutual tariff. Nikkei Stock Index fell 4.6% to 34,102 on Thursday, which is its lowest level in eight months. The US has imposed a 24% import duty on Japan. Gift Nifty also fell more than 200 points in early trade on Thursday.
South Korea’s Kospi index also collapsed.
Apart from Japan, South Korea’s Cospely Index also fell nearly 3 percent as soon as it opened. On the other hand, Hong Kong’s Hangseng index was trading in the red region at 23,094 below the previous closed level. Australia’s S&P/ASX 200 also fell 1.55%.
What will happen to Sensex-Nifty?
According to experts, there is a possibility of gap-down opening in Nifty and Sensex. Its most impact can be seen in auto, IT and pharma shares. Trump’s tariff is expected to cause the most damage to the pharma region. Although the exact percentage of tariffs is not given details, America is an important market for Indian drug exports. Increase in tariffs may reduce export income.
The post reaction to Trump’s ‘tariff bomb’, a big decline in stock markets around the world, what will happen to India? First appeared on News India Live | Breaking India News, The Indian Headline, India Express News, Fast India News.
