Indian Markets to Open Lower After Wall Street Crash, Trump Tariffs Shake Global Sentiment

Gift Nifty signals gap-down opening as global stock rout erases trillions in value; Asian markets and commodities reel from US tariff shock.

Mumbai, April 4, 2025 — Indian stock markets are expected to open lower on Friday as global financial markets bleed following US President Donald Trump’s sweeping tariffs and a historic Wall Street sell-off that wiped out $2.4 trillion in S&P 500 market value.

Also Read: Wall Street Crashes in Global Market Meltdown as Trump Defends Tariffs: “It’s Going To Be Amazing”

The Gift Nifty was trading around 23,206 — a 120-point discount from the Nifty futures’ previous close — indicating a sharp gap-down start for both Sensex and Nifty 50.

Also Read: Stock Market Highlights: Trump Tariff Exemptions Boost Pharma, But Nifty Ends Below 23,300

On Thursday, benchmark indices closed in the red, with the Sensex down 322 points to 76,295 and the Nifty 50 down 82 points to 23,250.

8 Key Market Triggers for April 4, 2025

1. Gift Nifty Indicates Weak Opening

Also Read: Donald Trump’s ‘Liberation Day’ Tariffs Explained: 10 Key Points on What Changes From April 5

Gift Nifty’s current levels suggest bearish sentiment in the Indian market, tracking sharp declines in US and Asian markets.

2. Wall Street Carnage

• S&P 500 plunged 4.84%
• Nasdaq tanked 5.97%
• Dow Jones shed 3.98%

This marks the biggest single-day percentage drop since 2020. Major US tech stocks nosedived: Apple (-9.2%), Amazon (-9%), Nvidia (-7.8%), AMD (-8.9%), Microsoft (-2.4%), and Tesla (-5.47%).

3. Trump’s Tariff Tsunami

Trump’s ‘Liberation Day’ tariffs imposed:

• A 10% universal import duty on all countries
• Reciprocal tariffs on 60 countries, including India (26%), China (34%), EU (20%), Japan (24%)

Markets fear a full-scale global trade war and a slowdown in global economic growth.

4. Asian Market Slide

Asian equities followed Wall Street into the red:

• Nikkei 225 down 2.07%
• Topix down 2.69%
• Kospi down 1.15% Markets in Hong Kong and China are closed for the Qingming Festival.

5. Gold Prices Hold Firm

Gold prices remained firm amid safe-haven demand:

• Spot gold at $3,109.95/oz
• US gold futures at $3,129.60, up 0.3%

6. Oil Prices Ease

Crude oil dipped after OPEC’s decision to ramp up output and worries over reduced global demand:

• Brent crude at $69.78, down 0.51%
• WTI at $66.60, down 0.52%

7. US Jobless Claims

Weekly US jobless claims dropped by 6,000 to 219,000 — a sign of tight labour markets despite recession fears.

8. US Services PMI Slumps

The US Services PMI fell to 50.8, a 9-month low, indicating slowing service sector activity.

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Market Sentiment:
Analysts believe selective profit booking will continue in IT and auto stocks. The broader trend hinges on global cues and tariff fallout, with volatility expected to persist.

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