Asian stocks drop and Wall Street tumbles as Trump announces 25% auto import tariffs; Gift Nifty signals negative start for Indian markets.
March 27, 2025: Indian stock markets are poised for a weak opening on Thursday, March 27, after global equity markets took a sharp hit overnight. Investor sentiment soured following US President Donald Trump’s announcement of a 25% tariff on imported cars, triggering a sell-off in US and Asian markets.
According to market data, Gift Nifty was trading around 23,498, indicating a 24-point discount from the Nifty futures’ previous close, signaling a soft opening for the domestic indices.
On Wednesday, Indian benchmark indices snapped a 7-day winning streak. Sensex fell 728.69 points (0.93%) to 77,288.50 while Nifty 50 dropped 181.80 points (0.77%) to settle at 23,486.85. Profit booking ahead of further tariff announcements and US-India trade developments added to the nervousness.
Also Read: UPI Glitch Hits Users Across India, Thousands Report Failed Transactions
Global Market Cues
- Wall Street ended deep in the red on Wednesday:
- Nasdaq plunged 2.04%
- S&P 500 dropped 1.12%
- Dow Jones shed 0.31%
Heavyweight tech stocks dragged the US market:
Also Read: 8th Pay Commission: How Much Salary Hike Can Central Government Employees Expect?
- Nvidia fell 5.74%
- Tesla tumbled 5.6%
- Broadcom dropped 4.78%
- General Motors shares crashed 8% in after-hours trade
Asian Markets
Asian stocks mirrored the negative sentiment:
- Nikkei 225 fell 0.80%
- Kospi down 0.65%
- Topix and Kosdaq also declined
- Hong Kong’s Hang Seng futures indicated a weak open
Trump’s Tariff Shock
President Trump’s announcement of a 25% tariff on all foreign-made vehicles is expected to worsen trade tensions. The policy, effective from April 2, is part of his broader “reciprocal trade” push.
The auto sector responded sharply:
- Ford, Stellantis fell around 4.5%
- US-listed auto stocks slumped across the board
- In Asia, Toyota, Honda, and Hyundai saw share prices dip nearly 3%
Other Key Indicators
- Gold prices rose on safe-haven demand:
- Spot gold at $3,022.69/oz
- US gold futures at $3,026.70/oz
- Crude oil gained modestly after US inventory draw:
- Brent at $73.88/barrel
- WTI at $69.77/barrel
- Currency markets saw:
- Euro at a 3-week low near $1.0747
- Dollar index steady at 104.61
- Yen slightly stronger at 150.445 per USD
Tags:
Indian stock market, Sensex, Nifty 50, Gift Nifty, Trump tariffs, global market cues, auto import tariffs, gold prices, crude oil prices, stock market news today, market opening trends