Mumbai, April 3, 2025 – Asian stock markets tumbled after U.S. President Donald Trump announced new tariffs, including a 26% duty on Indian imports. Japan’s Nikkei 225 dropped 3.4%, with major companies like Toyota and Mitsubishi UFJ taking significant hits. Stock markets in South Korea, Hong Kong, Shanghai, and Australia also saw sharp declines as concerns over a global economic slowdown intensified.
In India, stock futures fell, and the rupee weakened slightly, opening at 85.70-85.75 per U.S. dollar. Traders were surprised that the currency didn’t depreciate more severely despite the tariff impact. The Indian government is in talks with U.S. officials to address concerns and minimize economic disruptions.
