Sensex, Nifty Plunge as Trump’s April 2 Tariff Concerns Shake Stock Market

Sensex Nifty: The stock markets in the United States dropped to a six-month low on Monday, March 31, as Wall Street opened lower over fears looming about the upcoming tariffs from the Donald Trump administration on April 2.

At 9:30 a.m. (EDT), the US benchmark indices opened lower, with the Dow Jones Industrial Average losing 0.68 percent, dropping to 41,293.25 points at the market open, compared to 41,583.90 points at the stock market close on Friday.

The S&P 500 dropped 1%, while the Nasdaq Composite nosedived 2%, with major tech stocks like Nvidia, Tesla, and Palantir suffering notable losses.

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Trump's aggressive tariff move shakes markets

Aboard Air Force One on Sunday, Trump announced plans to impose tariffs on all nations that have offered less favorable trade terms to the United States. Though the president assured that the measures would be “more generous”, the looming uncertainty has spooked investors. With a Wednesday deadline for the announcement, volatility is expected to persist in the coming days.

Key market movements

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S&P 500 futures fell 0.6% (as of 6:12 a.m. New York time)

Nasdaq 100 futures dropped 0.9%

Dow Jones Industrial Average futures slipped 0.3%

Stoxx Europe 600 declined 1.7%

MSCI World Index fell 0.5%

Bitcoin dropped 1.4% to $81,345.70

West Texas Intermediate crude rose 0.6% to $69.43 per barrel

Donald Trump Tariffs

US President Donald Trump is set to announce a new set of tariffs for the world on April 2. Trump branded April 2 to be the ‘Liberation Day’ where he plans to launch reciprocal tariffs which aims to rebalance global trade and boost manufacturing for the Western nation.

Investors all over the world raised their concerns about the upcoming US tariffs on nations. However, the White House has not announced any specific details on the rates of the upcoming tariffs or how will they be calculated, along with the details on which countries may qualify for exceptions.

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