Stock Market Live Today: Tariff Trauma – Nifty Struggling Around 22,000, Sensex Down Nearly 200 Points; Tech Sees Sharp Slide – Market News
As global markets dive, India’s stock market opens lower today, March 4, due to weak cues from Asia and the US. The Nifty is testing the 22,000 mark, with the Sensex slipping nearly 200 points in morning trade. Tech stocks are under significant pressure, with the Nifty IT Index down over 1.5%.
The Big Factors to Watch Out For Today –
1. Asian Markets Slide:
Asian stocks are under pressure today, mirroring Wall Street’s sharp losses. Japan’s Nikkei 225 fell over 1%, South Korea’s Kospi slipped 0.41%, and Australia’s ASX 200 dropped 1.11%, as investors react to growing trade concerns.
2. China Hits Back:
According to the latest Reuters report, China’s Commerce Ministry "vowed to retaliate against fresh US import tariffs" set to take effect later in the day, reiterating its stance that the Trump administration was trying to "shift the blame" and "bully" Beijing over fentanyl flows.
3. US Markets Plunge:
Wall Street took a heavy hit yesterday after President Donald Trump announced new tariffs. The Dow Jones tumbled 649 points, the S&P 500 lost 104 points, and the Nasdaq saw a steep decline of 2.64%, closing at 18,350. The S&P 500 posted its biggest loss since December. With the selloff seen last evening, the S&P 500 is back in the red for 2025.
4. Trump’s Tariff Move:
The US will impose a 25% tariff on imports from Canada and Mexico starting today, as Trump declared trade talks have failed. This decision heightens worries over supply chain disruptions and economic fallout from escalating trade tensions. There are also concerns about how it might impact inflation in the United States, as the tariffs are expected to drive up domestic prices.
Breaking News:
- The Nifty IT Index has declined nearly 1.5% in early trade, with all constituent stocks in the red.
- The Nifty Metal Index is trading lower, with Hindustan Zinc, SAIL, and Jindal Steel among the gainers, and Vedanta, Welspun Corp, and Hindalco Industries among the losers.
- Oil prices continued to decline, with West Texas Intermediate (WTI) crude slipping 0.18% to $68.25 per barrel, and Brent crude falling 0.42% to $71.32 per barrel, as investors reacted to geopolitical tensions and trade concerns.
Key Levels to Watch Out For Today:
- 22,000 for the Nifty
- 22,200 for the Sensex
Stay tuned for more updates on the Indian stock market and global markets as the day unfolds.
Analysis:
"For uncertainty unleashed by Trump is aggravating in global trade. There is one factor that will tame Trump, and that is market reaction. Even mighty Trump cannot influence markets. Tariffs will soon raise inflation in the US, and the Fed can turn hawkish. The US stock market, which is now priced to perfection, can suffer a severe correction, even a crash. This outcome, which Trump abhors, can tame him and bring about some sanity and balance in his policies. We don’t know when this will happen," says Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
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