India’s stock benchmarks clocked their worst session in 10 months on Monday as a tariff-fueled selloff intensified and investors dumped riskier assets on growing fears of a global recession.
The Nifty 50 lost 3.24% to 22,161.1 while the BSE Sensex fell 2.95% to 73,137.9. Both benchmarks posted their worst single-day decline since June 4, 2024.
Other global markets slumped, with the MSCI Asia ex-Japan index losing 8.3%. Japan’s Nikkei 225 dropped 7.8%, while European stocks plunged with Germany’s Dax falling 5.3% and the British FTSE shedding 4.1%.
President Donald Trump’s new tariffs are “larger than expected” and are likely to impact inflation and growth, Federal Reserve Chair Jerome Powell said on Friday, flagging an uncertain outlook for the US economy.
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