Global Market Crash: chaos in the stock markets...
On Monday, markets around the world fell as if they would go straight to Hades. The massive tariff imposed by US President donald trump and China's sharp retaliation shook the stock markets of the whole world. china has announced a 34 percent tax on all goods coming from America, which will come into effect from april 10. Its effect was so tremendous that in just two days the market value of 9 trillion dollars vanished.
The worst day for the markets in America
The US stock market witnessed a historic decline on Friday. A massive fall of 6 percent in S&P 500, 5.5 percent in Dow Jones and 5.8 percent in Nasdaq. On Monday, futures were going even lower. US crude oil prices fell below $ 60 per barrel and the value of the dollar fell to 145.98 yen.
india too was not spared, Sensex-Nifty crashed
There was chaos in the stock market in india on Monday. The Sensex closed down 2,227 points at 73,137.90, while the Nifty fell 743 points to 22,161.60. Both the indices had fallen by about 5 percent during the day's trading, although there was a slight recovery in the end. Big stocks like Tata Steel (-7.78 percent), L&T (-5.88 percent), Tata Motors (-5.56 percent) were badly beaten. The technology sector, which is more dependent on the US, fell by 7 percent, and mid and small caps fell by 4-6 percent.
Chaos in foreign markets
Japan's Nikkei 225 fell 7.1 percent, which was the biggest fall in the last several years.
South Korea's Kospi fell 5.5 percent and a circuit breaker had to be applied.
Taiwan's market fell 9.8 percent, forcing a ban on short selling.
Singapore's market fell 8.5 percent as soon as it opened.
Australia's ASX 200 fell 6.3 percent to a 15-month low.
Saudi Arabia and gulf markets also fell
The Saudi stock market saw a decline of 6.78 percent. The biggest after the Covid period. Aramco shares fell 6.2 percent, causing a loss of $ 133 billion in the company's market value.
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