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The Nifty IT index tumbled 4.2% - the biggest loser among sector indices. Shares of Persistent Systems plunged 10%, while Coforge dropped nearly 8%. TCS, Infosys, Wipro, Mphasis, LTIMindtree, and HCL Technologies declined between 3% and 4%.
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News and Media
The US reciprocal tariffs on India Inc will have a twofold impact, benefiting some Indian exporters compared to higher tariffs on Asian countries while potentially increasing dumping from affected nations. Key sectors like automobiles, auto ancillaries, and gems and jewellery may face mixed effects, including cost pressures and reduced competitiveness in the US market.
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News and Media
The S&P 500 was down 4.2% in afternoon trading, more than other major stock markets, and at its bottom in the morning was on track for its worst day since Covid struck in 2020. The Dow Jones Industrial Average was down 1,394 points, or 3.3%, as of 2:09 p.m. Eastern time, and the Nasdaq composite was 5.3% lower.
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News and Media
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