Trump Tariffs Announcement: Global Markets Plunge as Trump Imposes 26% Tariff on Indian Imports
Massive Market Crash Following Trump's Tariff Decision
U.S. President Donald Trump announced reciprocal tariffs on 60 countries on Wednesday evening, triggering a sharp decline in global markets. The S&P 500 index saw a market capitalization loss of approximately $2 trillion within just 20 minutes of the announcement.
S&P 500 Futures Drop 3.6% on April 3
As of Thursday, April 3, S&P 500 futures were trading 3.6% lower in the Indian time zone. However, U.S. stock markets managed to close 0.5% higher on Wednesday’s normal trading session due to optimism that Trump’s reciprocal tariffs would not be as severe as feared.
Before Trump’s tariff announcement, the S&P 500 index had closed at a high point, and futures were up by 1.7% at 4:25 PM.
Markets Lose $125 Billion Per Minute
During Trump’s speech, U.S. Commerce Secretary Howard Lutnick submitted the tariff details, which Trump began reading country by country. As the announcement progressed, futures markets started declining rapidly.
By 4:42 PM Eastern Time, $2 trillion had been wiped out from the market capitalization, averaging a staggering $125 billion loss per minute. Following the announcement:
Dow Jones Futures plunged by 1,100 points
Nasdaq Futures fell nearly 5%
S&P 500 and Nasdaq Futures were down by 3.5% and 4.5%, respectively
Trump Announces 26% Tariff on Indian Imports
Trump imposed a 26% tariff on Indian imports, citing India’s existing 52% tariff on U.S. goods as justification. The announcement led to a significant market selloff, with Dow Futures down 4% at one point.
Asian Markets Drop by 3.5%
The shockwaves of Trump’s tariff decision also impacted Asian markets:
Japan’s Nikkei Index dropped 3.5%
South Korea’s stock market declined by 1.5%
Hong Kong’s Hang Seng Futures plunged 2.4%
China’s Shanghai Composite Index also traded under pressure
Donald Trump Reciprocal Tariff: Full list of all countries
Sr. No. | Country | Tariff Rate (%) |
|---|---|---|
1 | Chile | 10 |
2 | India | 26 |
3 | Israel | 17 |
4 | Brazil | 10 |
5 | China | 34 |
6 | Japan | 24 |
7 | Turkey | 10 |
8 | Taiwan | 32 |
9 | Vietnam | 46 |
10 | Pakistan | 29 |
11 | Thailand | 36 |
12 | Australia | 10 |
13 | Malaysia | 24 |
14 | Colombia | 10 |
15 | Sri Lanka | 44 |
16 | Singapore | 10 |
17 | Indonesia | 32 |
18 | Cambodia | 49 |
19 | Philippines | 17 |
20 | Switzerland | 31 |
21 | Bangladesh | 37 |
22 | South Korea | 25 |
23 | South Africa | 30 |
24 | United Kingdom | 10 |
25 | European Union | 20 |
What’s Next?
The Indian government is expected to respond to Trump’s tariff move. Investors and market analysts are closely monitoring the situation to understand how this decision will impact Indian exports, global stock markets, and bilateral trade agreements.
Stay tuned for the latest updates on Trump tariffs and market reactions.
