As Stock markets bleed, Sensex crashed nearly 4,000 points while the Nifty fell below 21,900 in early trade over global recession fears
GUWAHATI, April 7: Stock markets are bleeding over the Trump tariff fallout and global recession fears with the Sensex opening nearly 4,000 points lower since its last trading session while the Nifty tanked over 1,000 points this morning before recovering somewhat.
The Sensex, Nifty crash was preceded by a market rout on Wall Street and other major Asian markets like Japan, Singapore and China.
IT companies, which earn a significant revenue from the US, were the worst-hit as their shares took a big hit in early morning trade.
Market experts said today’s fall in the worst to have hit the Indian markets since the COVID-19 pandemic.
The tariffs imposed by President Donald Trump and retaliatory moves announced by many countries have led to fears of a global trade war and a worldwide recession leading to the markets opening in red.
The biggest concern if nothing is done to de-escalate the situation, moneycontrol.com reported, will be that economies around the world could slide into recession.
At the time of filing of this report, the BSE Sensex was trading at 72445.47, down 2919.22 points, Nifty was trading at 21984.05, down 920.4 points.
