"₹20 Lakh Crore Wiped Out in Seconds as Markets Crash Over Trump Tariffs"

Trump’s Tariffs Trigger Global Market Chaos; ₹20 Lakh Crore Wiped Out from Indian Markets in Seconds

U.S. President Donald Trump’s sweeping tariffs have sparked global financial turmoil, sending Indian equity markets crashing to a 10-month low and erasing investor wealth worth over ₹20 lakh crore within seconds. The Sensex opened nearly 4,000 points lower, plunging more than 3.5% from its previous close, while the Nifty dropped over 1,000 points in early trade.

The meltdown in Indian markets followed a widespread sell-off across Asian equities, driven by fears surrounding Trump’s aggressive trade policies. U.S. futures also pointed to significant losses as trading was set to resume later in the evening.

The tariffs—promoted by Trump as a catalyst for a "golden period" for American industries—aim to counter trade practices he considers unfair. These duties are country-specific and can reach up to 50%. India faces a tariff rate of 26%, compounded by a baseline duty of 10% applied to all nations. This has triggered concern among Indian exporters and traders.

Despite the global market sell-off, President Trump remained defiant, likening his tariff policies to a necessary “medicine” required to “fix something,” as he told reporters earlier today.

Indian Equities Slide 3.5%

The Sensex plummeted 3,939.68 points to 71,425.01 shortly after markets opened at 9 a.m., following the weekend break. Meanwhile, the Nifty fell 1,160.8 points to 21,743.65. By 10 a.m., the Sensex—comprising 30 of India’s top companies listed on the Bombay Stock Exchange—was still down more than 2,700 points, while the Nifty hovered just above the 22,000 mark.

The Indian rupee also took a hit, opening 30 paise lower at 85.74 against the U.S. dollar.