Global Market Crash: On Monday, markets around the world declined so much that they went straight to hell. The heavy tariff imposed by US President Donald Trump and the counter -tariff of China have shaken stock markets around the world. China has announced to impose 34 percent tariffs on all goods coming from the US, which will be applicable from 10 April. Its effect was so tremendous that in just two days the market price of 9 trillion dollars disappeared worldwide.
The worst day for American markets
The US stock market saw a historic decline on Friday. S&P 500 declined by 6 percent, Dow Jones 5.5 percent and Nasdaq by 5.8 percent. Whereas on Monday, futures prices were falling further. US crude oil prices fell below $ 60 per barrel and the dollar fell to 145.98 yen.
India is also not left, Sensex and Nifty declines
There was chaos in the Indian stock market on Monday. The Sensex fell 2,227 points to close at 73,137.90, while the Nifty fell 743 points to close at 22,161.60. During the day trading, both indices declined by about 5 percent, although the end saw a slight improvement. Major shares such as Tata Steel (-7.78 percent), L&T (-5.88 percent), Tata Motors (-56 percent) declined drastically. The technology sector, which is highly dependent on the US, declined by 7 percent, and the medium and small sector fell by 4-6 percent.
Earthquake in foreign markets
Japan’s Nikkei 225 declined by 7.1 percent, which was its biggest decline over the years.
South Korea’s Kospi fell 5.5 percent and had to implement the circuit breaker.
The Taiwan market declined by 9.8 percent, which led to a ban on short selling.
The market fell 8.5 percent as soon as the market opened in Singapore.
Australia’s ASX 200 fell 6.3 percent to 15 months low.
Saudi Arabia and Gulf Markets also remained stable.
The Saudi stock market saw a decline of 6.78 percent. The greatest after Kovid period. Aramco’s shares declined by 6.2 percent, decreasing its market price by $ 133 billion.
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