Surprising markets across the globe, US President Donald Trump on Monday announced sweeping new tariffs on imports from 14 countries, including key Asian economies such as Japan and South Korea. He, however, extended the deadline for tariffs until August 1.
Following the announcement, major indices on the Wall Street ended sharply lower. Rising uncertainty over the direction of Trump’s tariffs and their impact on global economic growth infused volatility in Asian and European markets.
Indian stock market benchmarks, the Sensex and the Nifty 50, ended with mild gains after a rangebound trade. Japan’s Nikkei rose 0.25 per cent, but Korea’s Kospi surged 1.8 per cent.
(This is a developing story. Please check back for fresh updates.)
