trump chaos | Sensex falls 1,460.18 pts or 1.90% since April 2

PTI New Delhi

Investors' wealth eroded by Rs 11.30 lakh crore since early this month, where the BSE benchmark Sensex tumbled nearly 2 per cent, as stock markets experienced turbulence in recent times initially due to US President Donald Trump unveiling a massive tariff plan, followed by growing concerns of a tit-for-tat trade war between China and the US. Since April 2, the BSE benchmark gauge has slumped 1,460.18 points or 1.90 per cent.

Tracking uncertainty in equities, the market capitalisation of BSE-listed firms tumbled by Rs 11,30,627.09 crore to Rs 4,01,67,468.51 crore (USD 4.66 trillion) during this period. Benchmark indices jumped nearly 2 per cent on Friday as investors rejoiced at the 90-day suspension of additional import duties by the US.

Trump unveiled a massive tariff plan in the first week of April. The White House later announced a 90-day pause on "reciprocal tariffs" for most countries except China, which in turn decided to impose 125 per cent tariffs on US imports. China on Friday upped its additional tariff on US goods to 125 per cent, retaliating the America's 145 per cent levy.

"Markets had a rocky start to the new fiscal year after Trump announced sweeping reciprocal tariffs on the world. Global markets witnessed sharp losses, and India also was not immune to the sell-off but fared relatively better so far," Satish Chandra Aluri, Analyst at Lemonn Markets Desk, said.

The US, on April 2, announced an additional 26 per cent tariff on Indian goods entering the US. But on April 9, the Trump administration announced the suspension of these on India for 90 days until July 9 this year. However, the 10 per cent baseline tariff imposed on the countries will continue to remain in place.