Trump's new tariffs, which go up to 50% for certain nations and 26% for India, aim to curb what he calls "unfair trade practices." A 10% blanket duty applies to all countries. Despite global market chaos, Trump remained unfazed, calling the tariffs a "bitter pill" necessary for fixing long-standing issues.

The Indian market’s fall is largely attributed to global interconnectedness and fears over capital outflows. “This is a global chain reaction. India needs a coordinated fiscal, monetary, and reform response to cushion the blow,” said market expert Ajay Bagga.

Asian markets were among the worst hit. China’s exchanges tanked over 4%, Hong Kong’s Hang Seng dropped more than 10%, and Japan’s Nikkei plunged over 6.5%. Taiwan’s index collapsed nearly 10%, and Singapore fell 8%. Meanwhile, US futures indicated Wall Street is bracing for steep losses.

Analysts worry the tariffs could usher in a global recession. “Markets are in free-fall. The US is treating tariffs as a badge of honor rather than a negotiation tool,” warned Stephen Innes of SPI Asset Management.

With uncertainty looming, investors and governments alike are scrambling to reassess strategies amid what many now fear could become a prolonged period of global economic instability.

Trump's new tariffs, which go up to 50% for certain nations and 26% for India, aim to curb what he calls "unfair trade practices." A 10% blanket duty applies to all countries. Despite global market chaos, Trump remained unfazed, calling the tariffs a "bitter pill" necessary for fixing long-standing issues.

The Indian market’s fall is largely attributed to global interconnectedness and fears over capital outflows. “This is a global chain reaction. India needs a coordinated fiscal, monetary, and reform response to cushion the blow,” said market expert Ajay Bagga.

Asian markets were among the worst hit. China’s exchanges tanked over 4%, Hong Kong’s Hang Seng dropped more than 10%, and Japan’s Nikkei plunged over 6.5%. Taiwan’s index collapsed nearly 10%, and Singapore fell 8%. Meanwhile, US futures indicated Wall Street is bracing for steep losses.

Analysts worry the tariffs could usher in a global recession. “Markets are in free-fall. The US is treating tariffs as a badge of honor rather than a negotiation tool,” warned Stephen Innes of SPI Asset Management.

With uncertainty looming, investors and governments alike are scrambling to reassess strategies amid what many now fear could become a prolonged period of global economic instability.