The trade war between the US and China is deepening. China imposed a 34% tariff on the US in response to a tariff imposed on China by US President Donald Trump. Trump had asked to withdraw it by 8 April, which China did not accept. Now the US has announced a 104% tariff on imported goods from China. This new tax has come into force from midnight of 9 April. The impact of reaching the new level of trade war between China and America has been seen on the US market.
The US stock market declined for the fourth consecutive day on Tuesday. S&P 500 closed for about 5,000 for the first time in about a year. The index is now 18.9% below its record high level of February 19, close to a 20% decline that would indicate the recession trend. Dow Jones Industrial Average fell 320 points to close at 37,645.59. S&P 500 closed 1.57% to close at 4,982.77. Nasdaq composite fell 2.15% to close at 15,267.91. Will its impact continue on the Indian market even today? SGX or gift Nifty are also giving similar indications.
Indian stock market may open after decline
If you look at SGX or gift Nifty, it is trading down 241 points or 1.07% at 7 am. SGX or gift Nifty is an indicator of the Indian market’s Nifty 50. This indicates how the situation will be. Currently, there are signs of recession in the market. This means that the Indian stock market can be seen again today.
RBI policy will also be affected
Today the Reserve Bank of India i.e. RBI will announce its policy. Reserve Bank of India Governor Sanjay Malhotra will give information about the situation of the economy including inflation, GDP growth, repo rate cut. Its effect will also be seen on the market. Ini is living in Hell today.
