Markets In Asia Plunge After Trump's Tariff Announcement—What You Need To Know

Asian stock markets witnessed a sharp sell-off on Thursday (3 April) after US President Donald Trump announced reciprocal tariffs on multiple Asian countries, including India, ANI reported.

The move triggered widespread uncertainty, leading to a significant downturn across major indices in the region.

Japan’s Nikkei 225 slumped 2.69 per cent, while Hong Kong’s Hang Seng Index fell 1.80 per cent. South Korea’s KOSPI Index also registered a decline of 1.3 per cent, reflecting investor concerns over escalating trade tensions.

Indian markets were not spared, as Gift Nifty futures declined 1.11 per cent ahead of the opening bell, suggesting a weak start for domestic equities.

The benchmark BSE Sensex plunged over 800 points to open at 75,811.12, marking a 1.05 percent decline. Similarly, the NSE Nifty 50 index fell by 182.05 points, opening at 23,150.30, down by 0.78 percent.

Among sectoral indices, Nifty Auto declined 1.25 per cent, Nifty IT fell 1.67 per cent, and Nifty Metals slipped 0.81 per cent. However, the pharma sector outperformed, gaining 2.95 per cent, as Trump's tariffs did not impact this sector.

Already, the offshore China Internet ETF has tumbled 6 per cent, while the Vietnam Offshore Country ETF plunged 10 per cent on Thursday morning.

Trump had announced new import tariffs on Wednesday (2 April), imposing a 26 per cent duty on India, alongside levies on China, Japan, the European Union, and others.

Also Read: India Among Nations Targeted In Trump’s Tariff Overhaul; Faces 26 Per Cent Duty