Tue Jan 21 13:07:48 UTC 2025: ## Chhattisgarh Police Kills 14 Naxals in Encounter, Stock Market Crashes After Trump’s Tariff Threat
**Raipur, India/New Delhi, India** – A major operation by Chhattisgarh Police resulted in the death of 14 Naxalites in an encounter in Gariaband district. Separately, the Indian stock market experienced a significant crash following newly inaugurated President Donald Trump’s threat to impose tariffs on BRICS nations.
The Sensex plummeted by 1235.08 points (1.60%), closing at 75,838.36, while the Nifty fell 320.10 points (1.37%) to 23,024.65. Zomato saw the steepest decline, losing 10.92%, while only UltraTech Cement and HCL Technologies registered gains among the Sensex stocks. Similarly, the Nifty saw 41 of its 50 stocks close in the red. Trent, a Tata Group company, experienced the largest loss (6%) in the Nifty.
Market analysts attribute the crash to several factors: uncertainty surrounding Trump’s trade policies, investor caution ahead of the upcoming Union Budget (February 1st), significant foreign portfolio investor sell-offs (over $10 billion in October 2024), weak corporate earnings, and global economic factors such as a slowdown in China. While some Asian markets saw mixed results, the US market closed positively on Monday, and European markets showed a positive trend.
In other news, West Bengal Chief Minister Mamata Banerjee expressed dissatisfaction with the verdict in the RG Kar case, stating she believed a death sentence would have been appropriate if the case had been handled differently.
First Piper 