MUMBAI, April 7 – Indian shares opened sharply lower on Monday, tracking a global sell-off driven by renewed fears of a U.S. recession and escalating concerns over a potential trade war following sweeping U.S. tariffs announced last week.
The benchmark Nifty 50 index dropped 5% to 21,758.4 in pre-open trade as of 09:08 a.m. IST, while the BSE Sensex shed 5.29% to 71,379.89. All 13 major sectoral indices were in the red. Broader markets bore the brunt of the decline, with small-cap stocks falling 10% and mid-caps down 7.3%.
The steep losses came after U.S. markets ended sharply lower on Friday, with the tech-heavy Nasdaq confirming entry into bear market territory. Wall Street’s plunge followed former President Donald Trump’s announcement on April 2 of sweeping new tariffs, which rattled global trade sentiment and triggered a broad sell-off in commodities including oil.
Asian markets mirrored the U.S. rout, with key indices in Japan, Hong Kong, and South Korea posting heavy losses in early trade. The downturn reflects growing investor anxiety over a possible global economic slowdown, amid rising geopolitical tensions and volatility in financial markets.
