The Nifty 50 fell nearly 400 points, while the Sensex fell 1,000. The pain was felt in the broader markets with the Nifty Midcap index declining nearly 2,000 points and the Smallcap index shaving off over 4%.

As Donald Trump’s tariffs on countries across the world continue to send shockwaves in the global economy, many experts fear the worst is yet to come. Overnight, the US president sparked a trade war overnight with partners in all continents with many retaliating in turn.