Stock markets highlights: US market closes lower after Trump's latest tariff

Stock market crash live: Hong Kong investors were left reeling today as Trump's punishing tariffs and Beijing's retaliation saw the city's stock market suffer from its worst day in almost three decades, according to a Bloomberg report.

The benchmark Hang Seng Index fell by 13.2 per cent, which was its biggest drop since 1997 during the Asian financial crisis.

Stock market crash live: Manish Jain, Chief Strategy Officer & Director, Mirae Asset Capital Markets said, “Uncertainty is the key word here. We don’t know what comes next and in which area from the US administration (as of now).”

He added that though he is comfortable with the valuations at these levels, this is not the time he would take bets, but that good opportunities will come in this volatile time.

“GDP growth, inflation, core sector growth, and high-frequency indicators (HFIs) suggest that markets may have bottomed out based on valuations, technicals, and fundamentals,” he said. “However, given the uncertainty surrounding us, we should adopt a cautiously optimistic stance.”

Stock market crash live: JPMorgan Chase & Co has said that it now expects the US economy to fall into a recession this year after accounting for the likely impact of tariffs, according to a Bloomberg report.

“We now expect real GDP to contract under the weight of the tariffs, and for the full year (4Q/4Q) we now look for real GDP growth of -0.3%, down from 1.3% previously,” the report quoted the bank’s chief US economist, Michael Feroli, as having said on Friday in a note to clients. “The forecasted contraction in economic activity is expected to depress hiring and over time to lift the unemployment rate to 5.3%.”

Stock market crash live: The Sensex was down by 2,620.31 points or 3.48 per cent, reaching 72,744.38. The Nifty meanwhile was down by 853.50 points or 3.73 per cent in the red, reaching 22,050.95.

Stock market crash live: Vishnu Kant Upadhyay, AVP – Research & Advisory at Master Capital Services said, “Amid escalating trade tariff uncertainties, market volatility is expected to persist in the near term,” though “long-term investment opportunities remain viable at current levels.”

He added that “sectors such as Finance, Oil & Gas, Consumption, and FMCG are likely to offer relative stability for long-term investors.”

Stock market crash live: Both Foreign and Domestic Institutional Investors were net sellers during the previous trading session, having offloaded ₹3,483.98 crore and ₹1,720.32 crore respectively.

Stock market crash live: The Nifty FMCG Index fell the least among the Sensex stocks by 1.28%, reaching 53,140.40. In it, the following stocks were in the green:

1) Godrej Consumer Products was up by 0.79%, trading at ₹1,165.75.

2) Hindustan Unilever was up by 0.73%, trading at ₹2,260.95.

3) Britannia Industries was up by 0.59%, trading at ₹5,052.90.

Stock market crash live: Hindustan Unilever became the single stock on the Sensex to turn green. It was up by 0.31% or ₹2,251.30.

Stock market crash live: The Sensex was down by 3,112.87 points or 4.13 per cent, reaching 72,251.82. The Nifty meanwhile was down by 996.85 points or 4.35 per cent in the red, reaching 21,907.60.

Stock market crash live: Pakistan stocks fell rapidly just like other Asian countries, with its main exchange suspending trading for an hour after a 5% drop in its main KSE-30 index.

The country is planning to send a government delegation to Washington this month to discuss how to avoid the 29% tariffs on imports from there, largely textiles, which are also funded by IMF loans.

Stock market crash live: Malaysia’s Trade Minister Zafrul Abdul Aziz said that his country wants to forge a united response from Southeast Asia to the sweeping US tariffs, according to a Bloomberg report.

Stock market crash live: The Nifty Microcap 250 Index was the index which fell the most among the broader Nifty indices. It was down 5.82%, reaching 19,243.90.

Stock market crash live: The India Vix Index, which is a volatility measure index, was up 64.43%.

Stock market crash live: After Trent and Tata Steel, Shriram Finance fell by 9.32% on the Nifty 50, trading at ₹592.70, followed by JSW Steel, which was down by 9.20%, trading at ₹913.20, and Tata Motors, which was down by 8.28%, trading at ₹563.05.

Stock market crash live: Trent, a Tata Group retail company fell more than Tata Steel in the Nifty 50, by a staggering 16.61%, trading at ₹4,639. Tata Steel was the company which had fallen the second-most on the Nifty 50, and the one which fell the most on the Sensex.

Stock market crash live: Tata Steel and Tata Motors, the two highest-hit stocks in the Sensex were down by 9.68% and 8.37%, trading at ₹126.85 and ₹562.45 respectively.

Stock market crash live: Chinese stocks face panic selling as tariff war escalates, with the onshore CSI 300 dropping as much as 8.8%, which is its biggest decline in more than five years, according to Bloomberg. Meanwhile, Hong Kong’s Hang Seng Index was on track for its worst day since the global financial crisis.

Stock market crash live: Asian equities continued their decline with Hong Kong's loss of 12 per cent being its worst in more than 16 years, and Taiwan's Taipei tanking more than nine per cent and Tokyo's stocks falling more than seven per cent.

Stock market crash live: The Sensex was down by 3023.56 points or 4.01 per cent, reaching 72,341.13. The Nifty meanwhile was down by 977.10 points or 4.27 per cent in the red, reaching 21,927.35.

Stock market crash live: Shares of metal firms were hit hard after Donald Trump's sweeping reciprocal tariffs fanned fears of a global trade war. The stock of Tata Steel tanked 11.56 per cent; National Aluminium Company Ltd slumped 11.22 per cent; APL Apollo Tubes dived 10 per cent; SAIL declined 9.99 per cent; JSW Steel lost 9.92 per cent and Jindal Stainless dropped 9.91 per cent on the BSE, according to PTI.

Stock market crash live: Stocks in Asia slumped, with a key benchmark sliding by the most since the 2008 financial crisis, in a broad and deep selloff on worry over the trade war’s impact on the global economy, reports Bloomberg.

The MSCI Asia Pacific Index fell as much as 7.9%, the most since October 2008, with TSMC, Tencent and Sony among the biggest drags, reports Bloomberg.

Here we take a look:

-MSCI Asia Pacific Index fell 7.9%

-Japan’s Topix Index fell 7% ; Nikkei Index fell 6.8%

-China’s CSI 300 Index fell 6.3%;

-Hong Kong’s Hang Seng Index fell 11%; Hang Seng China Enterprises Index fell 11%

-Taiwan’s Taiex Index fell 9.7%

-South Korea’s Kospi Index fell 5%; Kospi 200 Index fell 5.3%

-Singapore’s Straits Times Index fell 8.1%

-Malaysia’s KLCI Index fell 4.3%

-Philippines’s PSEi Index fell 4%

Stock market crash live: As of 11.30am, the share price of TCS is down by 4.04% to ₹3,166.20.

Stock market crash live: Markets across the globe have been nosediving since Donald Trump announced tariffs on all trade partners of the US. The announcement has also raised fears of a global trade war, with several countries like China, Canada and Mexico already planning retaliatory moves. Investors were also wagering the imminent threat of recession would outweigh the likely upward shove to inflation from tariffs.

Stock market crash live: All the Sensex firms are trading lower. Tata Steel and Tata Motors have dropped over 10% each. Tata Steel slumped 8.54% to ₹128.45, and Tata Motors is down 8.01% to ₹564.30.

Stock market crash live: Investor wealth took a major hit on Monday morning, with losses amounting to ₹20.16 lakh crore, as benchmark indices tumbled. The Sensex plunged over 5%, dragged down by a global market rout sparked by escalating trade war fears, reports PTI.

During the morning session, the total market capitalisation of companies listed on the BSE slumped by ₹20,16,293.53 crore, bringing it down to ₹3,83,18,592.93 crore (approximately USD 4.50 trillion).