Sensex tanks 600 points as US imposes tariffs on imports
The Sensex dropped nearly 600 points on Thursday as the US hiked tariffs on Indian imports to 50%, rattling markets and exporters.
The index hit a low of 80,093 before recovering some ground to be down by about 240 points at the time of writing.
Nifty also slipped but ended with a smaller loss.
New tariffs could slow India's economic growth
The new tariffs hit $48 billion worth of Indian exports—almost 60% of what India sells to the US—including big categories like textiles and seafood.
Experts warn this could slow India's economic growth by up to 1% in 2025, making jobs in these sectors more uncertain.
Export-dependent firms under pressure
Investors are worried about how export-heavy companies will cope.
While stocks like Adani Enterprises and Asian Paints managed gains, IT and pharma giants such as Infosys and Sun Pharma took a hit as concerns over earnings grew.