Donald Trump tariffs roil markets: Equities crash, rupee flies high

Indian equities slumped on Tuesday as global markets reeled from the US imposing 25 per cent tariffs on steel and aluminium imports, alongside American President Donald Trump’s threat to levy “reciprocal tariffs” on inbound shipments from all nations. The benchmark Sensex and Nifty 50 fell 1.3 per cent each, marking their fifth consecutive decline, while small and midcap indices declined over 3 per cent. The selloff wiped out ₹9.3 trillion in market value, extending the decline from recent peaks to nearly ₹70 trillion. The scale of the rout was intense — 86 per cent of the 4,098 stocks traded on the BSE ended in the red. Following the latest downturn, the Sensex, Nifty 50, and Nifty Smallcap 100 are now at eight-month lows, while the Nifty Midcap 100 has slipped to its weakest level since June 4.