Indian stock markets witnessed a continued selling spree on Tuesday as both benchmark indices opened in the red, reacting to global concerns over slowing economic growth in the US and the impact of new tariffs imposed by US President Donald Trump.
Demand for safe-haven asset gold is on the rise at a time when there's a lot of uncertainty surrounding the US trade policy because of the Trump administration's aggressive reciprocal tariffs.
Indian stock indices continued to remain volatile over concerns about Trump's tariff announcements and weak global cues. The benchmark indices opened in the red to later trade in the green. At closing, it closed marginally lower.
The new tariff plans of US President Donald Trump will lift near-term inflation and hurt growth in the medium term according to a report by Standard Chartered.
In a simulated scenario assessing the potential economic impact of a 20 per cent flat tariff on Indian exports to the United States, the State Bank of India report predicts a loss of 50 basis points (bps) to India's GDP.
The impact of the proposed reciprocal tariffs by the United States on India will depend on how the policy is implemented--whether on a sectoral basis or a product-specific basis.
Taiwan plans to raise its defence spending to at least 3 per cent of GDP this year, President William Lai announced, emphasising the need to strengthen national security. The proposed increase comes amid growing regional tensions and US President Donald Trump's renewed push for tariffs on Ta
Failing to maintain the morning session gains, Indian stock indices closed Friday's session and the week in red. This marked eight consecutive sessions of decline in the domestic equity market indices, data showed.
He said that BRICS is dead and reiterated his threat to BRICS nations, saying he would impose a 100 per cent tariff on the bloc if they try to replace US dollar with any other currency.
An hour before his bilateral meeting with Prime Minister Narendra Modi, US President Donald Trump again commented on India's tariff structure, saying "they have the highest tariffs" and "it is a hard place to do business".
Trump's announcement comes ahead of his meeting with Prime Minister Narendra Modi who reached the United States today on an official visit. The two leaders are set to meet in the White House tonight.