It was a punishing start to the week for Indian equity markets. The BSE Sensex slumped 3076 points or 4.1% to 72300.31, while the Nifty 50 fell points or 4.4% to 21906.40. Indian market were no different from anywhere else in the world.India is not alone in feeling the heat. Markets across Asia opened deep in the red. Japan’s Nikkei declined over 6%, South Korea’s Kospi fell 4.4%, and Hong Kong’s Hang Seng dropped more than 10%. The trigger is a fresh wave of trade tensions. Over the weekend, US President Donald Trump announced reciprocal tariffs on over 60 countries, including India. China retaliated with a 34% tariff on US goods. The escalation of protectionist policies has revived fears of a global recession, sending shockwaves through financial markets.
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