Sensex tanks over 500 points as Trump hits India with tariffs
The Indian stock market slid sharply on Thursday, with the Sensex down over 500 points and Nifty falling below 24,750.
The sell-off followed President Trump's decision to impose a hefty 25% tariff on Indian exports, plus extra penalties for India buying Russian goods.
Sectors hit hardest by tariffs
Big sectors like textiles, pharma, and auto parts are directly hit—making it tougher for India to compete with countries like Vietnam and Indonesia who face lower US tariffs.
Pharma is especially vulnerable since over 30% of its exports go to the US.
Economists say if things don't improve by early autumn, India's GDP growth could take a noticeable hit.
Export-focused stocks see broad sell-off
Export-focused stocks saw a broad sell-off: auto shares dropped, oil & gas slipped further—even some strong performers lost ground.
Volatility spiked as traders grew cautious about where things are headed next, with ongoing US-India trade talks keeping everyone on edge.