-
Trump tariff: Dalal Street dodges drubbing on Day 1
Dalal Street investors largely ignored the US’s new tariff plans, with Sensex and Nifty closing slightly down. Despite the negative close of leading indices, midcap and smallcap stocks saw buying interest. The day’s decline was triggered by negative global sentiment and President Trump’s new tariff announcements on Indian imports.
-
Respite for rupee as dollar dives
The Indian rupee closed at 85.43 against the dollar, gaining seven paise. Initially weaker, the rupee strengthened due to the weakening US dollar amid recession concerns and inflation. Despite higher US tariffs on Indian imports, they are lower compared to other countries. Asian currencies recovered, and Indian equities outperformed, while US stocks opened negatively.
-
Tech stocks tumble over US spends uncertainty
US President Donald Trump’s tariff announcement has caused a significant drop in tech stocks, with Indian IT firms experiencing falls of 3% to 10%. The uncertainty surrounding these restrictive trade measures poses a threat to growth prospects, as the US accounts for more than 50% of revenue for large-cap IT companies.
-
Trump fires 3 national security officials over concerns they are not loyal: Report
President Trump dismissed several senior NSC officials after a meeting with far-right activist Laura Loomer, who claimed they were disloyal. The firings are part of an ongoing purge in Trump’s administration, targeting those deemed ideologically incompatible with his ‘America First’ policy.