Experts keeping a close eye on the market upheaval!
On the big fall in the indian stock market, experts on monday said that investors will have to keep an eye on the action of the european union (EU) and other countries in response to the US's reciprocal tariff. Market expert sunil Shah, while talking to news agency IANS, said that the nearly 4 percent fall in the stock market today is due to the 34 percent tariff imposed by china in response to the US's reciprocal tariff.
sunil Shah further said, "All investors know that no country is going to benefit from the tariffs and due to this, the world's markets are witnessing a decline." He further said that further action in the stock market will depend on the action of the european union (EU) and other countries.
Economist, Pankaj jaiswal said that for the first time after the Second World war, the world is in reset mode, due to which there has been a huge decline in the stock markets of the world including India. He further said that there is a risk of recession and inflation in the world due to the trade war and it will have the biggest impact on America.
World in reset mode
indian stock market is in the red mark due to trade war. Sensex was down 2,849 points or 3.78 percent at 72,515 and Nifty was down 910 points or 3.97 percent at 21,991. Selling was seen in most Asian markets. Tokyo, Shanghai, Bangkok, Seoul and hong kong have registered a decline of up to 11 percent.
US markets witnessed heavy selling on friday due to reciprocal tariffs. Dow closed down 5.50 percent and technology index Nasdaq closed down about 5.82 percent. oil prices have fallen sharply amid global uncertainties. Brent crude fell 2.67 percent to $63.82 per barrel, while West texas Intermediate (WTI) crude fell 2.69 percent to $60.31 per barrel.
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