Tue Mar 04 04:33:07 UTC 2025: ## Global Markets Tumble as Trump’s Tariffs Take Effect

**Mumbai, India/New York, USA** – Global markets experienced a sharp downturn on Tuesday following US President Donald Trump’s announcement that planned tariffs on Canadian and Mexican imports would proceed as scheduled. The move sent shockwaves through financial centers worldwide, impacting Asian and US markets significantly, and triggering retaliatory measures from Canada.

In India, the benchmark BSE Sensex plummeted over 350 points (0.45%) to 72,753, while the NSE Nifty 50 fell 70 points (0.64%) to 21,979. All 13 major sectors experienced losses, with small- and mid-cap stocks falling approximately 1% each. The negative trend followed a volatile Monday, where the Sensex closed down 112 points and the Nifty lost 5.4 points.

The impact extended beyond India. Asian markets suffered considerable losses, with Tokyo’s Topix index down 1.48% and the Nikkei 225 plunging 2.43%. US markets also felt the pressure, with the Dow Jones Industrial Average falling 1.48%, the S&P 500 dropping 1.76%, and the Nasdaq Composite shedding 2.64%.

Trump’s decision to impose tariffs, impacting over $918 billion worth of US imports from Canada and Mexico, prompted immediate retaliation. Canadian Prime Minister Justin Trudeau announced retaliatory tariffs of 25% on $15.5 billion of US goods, effective immediately. Mexico also indicated it had contingency plans in place. The situation further escalated with Trump increasing tariffs on Chinese goods to 20%, prompting warnings of countermeasures from Beijing. The President also hinted at potential tariffs on all US trading partners, including India. The global implications of these escalating trade tensions remain a significant concern for markets worldwide.

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