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Asian Stocks Plunge as Trump’s Tariff Announcement Hits Global Markets; Indian Futures Follow Suit

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New Delhi [India], April 3 (ANI): Asian stock markets experienced significant selling pressure on Thursday following US President Donald Trump’s announcement of retaliatory tariffs targeting several nations, including India. This action sparked widespread uncertainty, resulting in substantial drops across key indexes throughout the area.

The Japan Nikkei 225 index decreased by 2.69 percent, whereas the Hong Kong Hang Seng index went down by 1.80 percent. Additionally, South Korea’s KOSPI index experienced a drop of 1.3 percent.

Negative sentiment wasn’t confined to Asia; U.S. stock market futures also signaled distress. Specifically, Dow Jones Futures declined by 1.78 percent, suggesting that American markets responded negatively to the tariff news.

Indian equity index futures faced downward pressure as well. Before the market opened on Thursday, Nifty futures dropped by 1.11%, indicating that India’s financial markets could start off lower due to the prevailing global decline.

Ajay Bagga, an authority on banking and markets, shared with ANI that what was once uncertain in the markets has become a definite source of economic and financial stress. He explained, “The ambiguity has shifted to a clear-cut scenario where both economy and market distress are inevitable. Initially, people tend to seek refuge in safer investments and divest from risky ones. For India, this situation could manifest through factors such as depreciation of the U.S. dollar, decreased export volumes leading to reduced profit margins, and shifts in emerging-market investment portfolios as capital moves towards secure options including gold, the Japanese yen, Swiss francs, and Japanese government securities.”

Bagga cautioned that should currency wars commence, with China devaluing its currency as a countermeasure against the tariffs, this could lead to increased withdrawals from stock markets and subsequent drops in their values.

The China Internet ETF traded offshore has dropped by 6 percent, whereas the Vietnam Offshore Country ETF has experienced an even steeper decrease of 10 percent today.

On Wednesday (local time), US President Donald Trump declared new import duties, specifying the percentages set for various nations globally, including a 26 percent tariff on goods from India.

Currently, market players are keeping a close eye on worldwide events because increased trade conflicts might result in greater fluctuations within the financial sector. (ANI)

Provided by Syndigate Media Inc. (
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