There seems to be no relief in sight for the Indian investors, as the market seems to tumble every day to a new low. and India’s stock markets opened sharply lower on 28 February, with the Sensex and Nifty tumbling by 1% as investors reacted to fresh tariff threats from U.S. President Donald Trump and awaited key GDP data for the December quarter.
Trump announced on 27 February that his proposed 25% tariffs on Mexican and Canadian goods would come into effect on 4 March. Additionally, he imposed a further 10% duty on Chinese imports, citing the ongoing influx of illicit drugs into the U.S. These new measures follow a 10% tariff introduced on 4 February over the fentanyl crisis, effectively raising the total duty on Chinese goods to 20%.
By 2:27 AM IST, the Sensex had plunged 730 points (1%) to 73,879, while the Nifty was down 212 points (1%) at 22,332. The Nifty 50 index has fallen over 4% in February and is on track for its fifth consecutive monthly decline—the longest losing streak in nearly three decades.
Concerns over slowing economic growth, weakening corporate earnings, Trump’s aggressive trade policies, and persistent selling by foreign investors have contributed to a 14% drop in benchmark indices from their record highs in late September.
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