US indices plunge as S&P 500 drops 3.3%, Nasdaq tanks 4.5%, while Indian IT giants like Persistent, Coforge, TCS and Infosys see sharp declines amid tariff uncertainty.
April 3, 2025 | Wall Street reeled under pressure on Thursday after US President Donald Trump’s sweeping “Liberation Day” reciprocal tariffs jolted investor sentiment worldwide. The S&P 500 slumped 3.3%, Dow Jones fell 2.7%, and Nasdaq plunged 4.5% as markets digested the prospect of rising global trade tensions.
The trigger: Trump’s new trade policy announcing 10% baseline tariffs on all imports and reciprocal tariffs on 60 nations, including India (27%), China (34%), and Vietnam (46%).
Also Read: Trump Tariffs Target Remote Penguin Island With No Human Inhabitants
IT Sector Hit Hard
Back in India, IT stocks bore the brunt. Despite no specific tariff imposed on IT services, fears of a prolonged global slowdown and reduced tech outsourcing led to heavy selling.
- Persistent Systems: –9.92%
- Coforge: –7.77%
- KPIT Technologies: –7.66%
- TCS: –3.98%
- Tech Mahindra: –3.79%
- Infosys: –3.41%
- Wipro: –2.75%
The BSE IT index crashed 3.78%, shedding over 1,348 points to settle at 34,293.59.
Market analysts worry the reciprocal tariff war could choke demand pipelines, disrupt tech spending, and delay critical deal closures for Indian firms.
Investor Sentiment Weakens
The BSE Sensex slipped 322 points to 76,295.36, while broader indices reflected nervousness. Pharma stocks, however, saw a bounce, with Nifty Pharma rising 4.7%, thanks to exemption from tariff hikes.
Meanwhile, market experts warned of downside risks to global growth, with Morgan Stanley calling the policy shift “a serious headwind for emerging market exporters.”
Tags: Wall Street crash, Trump tariffs 2025, Nasdaq fall, S&P 500 news, Dow Jones dip, US-India tariffs, Persistent share price, TCS stock crash, IT sector news, Indian stock market, Trump trade war, global market news, tech stocks tank, BSE IT index, reciprocal tariffs