Washington DC [US], April 7 : In keeping with the turmoil in global markets following President Donald Trump's tariff decisions, the US markets also witnessed a bloodbath as they opened on Monday morning.
Trump's reciprocal tariffs have led to a broad-based fall in financial markets globally with markets plunging in Asia as well as Europe. The reciprocal tariffs have set off a sell-off in equities globally, and the US is no exception. Investors fear that the moves concerning global trade may raise inflation, risking economic growth.
US benchmark indices - Nasdaq, S&P, and Dow Jones, slumped in a range of 4-5 per cent soon after the opening bell.
"The United States has a chance to do something that should have been done DECADES AGO. Don't be Weak! Don't be Stupid! Don't be a PANICAN (A new party based on Weak and Stupid people!). Be Strong, Courageous, and Patient, and GREATNESS will be the result!" US President Donald Trump wrote on his social media platform Truth, addressing the American citizens.
Asian stock markets opened on Monday with heavy selling pressure, reflecting growing fears over the impact of tariffs on global trade and economic growth. Japan's Nikkei 225 index dropped sharply by 5.79 per cent, leading the decline across the region.
Investors are worried that global trade could slow down significantly, affecting corporate earnings and economic growth worldwide. The market reaction reflects growing concerns among investors about the future of international trade and the health of global economy.
Indian stocks too witnessed a bloodbath as the new week kicked off, triggered by Trump's reciprocal tariffs.
In the early trade, the Sensex dropped 5 per cent lower at one point, but as the day progressed, it pared some of the losses and closed 3 per cent lower. The Sensex closed at 73,137.90 points, down 2,226 points. Similarly, the Nifty also slipped 3 per cent to close at 22,161.60 points.
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