Mumbai: The global markets declined today amid the possibility of disruption in the global trade cycle and the serious condition of the countries dependent on exports. Apart from this, the countdown of reciprocal tariffs in the aggressive tariff policy of US President Donald Trump has also started. This policy is now going to be effective from April 2.
While the Indian stock markets remained closed on the occasion of Ramadan Eid, there was a huge decline in other countries of the world, especially the Asia-Pacific countries, the Tokyo Stock Exchange in Japan and the German stock market in Europe.
The funds made heavy selling due to the apprehension that the Global Trade War would disrupt the economies of many countries in the coming days, and there is a possibility of a major impact on the export of countries that export a huge amount to the US. The Indian stock market remained closed on Monday, but in the evening the gift Nifty saw a decline of 275 points and the gift Nifty was trading around 23,370 in the evening.
In Japan’s Tokyo stock market, Nikkei 225 index fell 1,502 points to 35,617 of the lowest level of 8 months. The speculation in the Tokyo stock market improved that Trump’s new tariff could have negative effects on Japanese exports.
There was a gap between Japan as well as South Korea markets. The Kospi index fell three percent to 2,481. While the small-cap cosedack index fell 3.01 percent to a low of 673.
S&P ASX 200 index fell 1.74 percent to 7,843 in the Australian stock markets too. China’s CSI 300 index fell 0.71 percent to 3,887, less than expected. While Hong Kong’s Hangseng index fell 152 points to 23,426.
Today, European markets declined a huge decline, as Trump’s tariff is likely to be the most affected by the preparation of the new round of European countries. In the evening, Germany’s DAX was 360 points below, the London Stock Exchange’s FTSE 100 index was 103 points, and France’s CAC 40 index was 129 points. International crude oil prices remained strong today amidst the possibility of Trump’s oil ban on Russia and announcing tough tariffs.
In the evening Brent crude was close to $ 69.47 and New York-Nimx crude was close to $ 74.15. With increasing global uncertainty, funds in the world market are reducing their investment from financial assets and are constantly increasing their investment in gold, which is considered a safe investment. Today, gold prices in the world market crossed the $ 3,100 level, which saw the decline in the global stock markets.
Amidst the hope that the growth rate of American GDP will be weak in the first quarter, and the tariff war will also have a negative impact, the US stock market opened late in the evening and Dau Jones was 292 points and Nasdaq 391 points below.
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