Indian stock markets witnessed a sharp decline during opening on Monday as US President Trump imposed trade tariff on Columbia which dampened investor sentiment.
The Nifty 50 index opened at 22,940.15, falling by 240 points, while the BSE Sensex dropped 700 points to open at 75,421. The market turmoil follows US President Donald Trump’s announcement of a 25 per cent tariff on Colombian imports.
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The move came after Colombia refused to allow US military planes carrying deported Colombian immigrants to land in the country. In response, Colombia has decided to use its presidential plane to transport the immigrants from Honduras. However, the damage to market sentiment appears to have been done.
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