Stock Market Crash Today: Sensex Tanks 3000 Points as Trump’s Tariffs Spark Global Sell-Off – PK Basu Breaks It Down

Mumbai: The Indian stock market faced a turbulent start as the Sensex plunged by 3,380 points and the Nifty 50 dropped below 21,800 in early trading. This sudden downturn comes in the wake of U.S. President Donald Trump ’s sweeping tariff announcements, which have sent shockwaves through global markets.

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In an exclusive interview with Republic, economist PK Basu provided a comprehensive analysis of the situation. He delved into the far-reaching implications of Trump’s tariff policies, highlighting their impact on the global economy, gold prices, and international commerce. Basu warned of the potential for a global recession, emphasising how these tariffs could disrupt trade flows and inflate costs for businesses and consumers.

“The US is taking on all the countries that have bilateral trade surpluses with the US, So the US has deficits with China, Canada, Mexico, India, Korea and Japan that are being slapped with higher tariffs.”

PK Basu's Exclusive Interview with Republic

Focusing on the Indian markets, Basu explained how the Sensex and Nifty reacted sharply to the news, reflecting investor concerns over the cascading effects of a global trade war. He also noted a significant uptick in gold prices, as investors flocked to safe-haven assets amidst the uncertainty.

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Basu further explored the international response to Trump’s tariffs, pointing out how different nations are strategising their countermeasures. He highlighted China’s particularly strong reaction, which includes retaliatory tariffs and export restrictions, setting the stage for heightened trade tensions.

This market upheaval demonstrates the interconnectedness of global economies and the ripple effects of policy decisions made by major players like the United States.

As the dust settles, all eyes will be on how governments and markets adapt to this new tariff game.