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Indian markets in meltdown as Trump slaps tariffs on global trade, Rs 20 lakh crore wiped off in seconds

Sensex and Nifty nosedived as Trump’s tariffs trigger global panic. Over ₹20 lakh crore wiped out in seconds, exposing India’s financial fragility.

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Stock market crash

By Mohammad Javed Rasheedi

In one of the most brutal bloodbaths Dalal Street has seen in recent memory, Indian stock markets nosedived within seconds of opening on Monday, erasing over Rs 20 lakh crore in investor wealth. The carnage was triggered by US President Donald Trump’s shockwave tariffs — a move that has set fire to global financial markets and plunged India into a crisis.

The Sensex crashed a staggering 3,939.68 points to 71,425.01 at the opening bell, while the Nifty tanked 1,160.8 points to 21,743.65 — a nosedive of over 3.5% in just minutes. The rupee wasn’t spared either, opening 30 paise lower at 85.74 against the US dollar.

This wasn’t just a bad day. It was a full-scale collapse. A punch to the gut for retail investors and institutional players alike.

Trump’s tariffs ignite global market panic

Trump’s latest tariff bomb — including a shocking 26% slapped on India — has thrown exporters and traders into disarray. Adding fuel to the fire is a 10% baseline duty applied universally. While Trump touted it as a “golden period” for American industries, for the rest of the world, it’s financial arson.

Unapologetic and defiant, Trump told reporters his actions were like medicine to fix a broken system. But what he has really done is set off a chain reaction — and India is feeling the burn.

Asian markets were decimated in early trade. China crashed over 4%, Hong Kong’s Hang Seng plummeted 10% and Japan’s Nikkei tanked more than 6.5%. Taiwan and Singapore? Nearly 10% and 8% wiped off respectively. Wall Street is next, with futures already in a tailspin, pointing to deeper global collapse.

Analysts raise red flags: India not ready

Experts are sounding the alarm. “India is not falling because of domestic weakness, but because we are entangled in global chaos,” said market veteran Ajay Bagga. He warned that only a robust fiscal, monetary, and reform response could protect India from the “economic winter” Trump’s war has unleashed.

SEBI-registered analyst Sunil Gurjar added that the Nifty50 has smashed through crucial support levels — and further breakdowns could take the market into uncharted territory.

Recession fears skyrocket

Global markets are now teetering on the edge of a recession. Stephen Innes of SPI Asset Management didn’t mince words: “The market is in free-fall mode again. Trump’s team isn’t blinking. The tariffs are being treated as a victory lap, not a bargaining chip.” For investors, that’s not strategy — that’s economic suicide.

India News

Stalin reminds PM Modi’s statements as Gujarat CM after his crying for funds remark

During the event, Stalin inaugurated over 6,700 completed projects worth ₹1,166 crore in Tiruvallur, laid foundations for 7,300 new initiatives, and distributed welfare benefits to 2.02 lakh residents.

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Tamil Nadu Chief Minister M.K. Stalin on Friday took aim at Prime Minister Narendra Modi during a government event in Ponneri, Tiruvallur district, invoking Modi’s own words as Gujarat’s Chief Minister to counter recent remarks about Tamil Nadu’s demands for funds.

Addressing a gathering, Stalin refuted Modi’s claim from a Rameswaram visit that Tamil Nadu leaders were “crying” for central funds regardless of allocations.

“With utmost respect, I remind the Prime Minister of his own stance as Gujarat CM, when he said states aren’t beggars pleading for Union handouts,” Stalin said.

He recalled Modi’s criticism of the Centre’s partisan fund allocations and accusations of Governors running “parallel governments” in opposition-ruled states. “When Tamil Nadu seeks its rightful share, how is it ‘crying’? I’m asserting our state’s rights, not groveling. I learned this from our leader Kalaignar [Karunanidhi],” Stalin asserted.

Minister S.M. Nasar, MPs S. Jagathrakshakan and Sasikanth Senthil, legislators T.J. Govindarajan, Durai Chandrasekar, S. Chandran, V.G. Raajendran, A. Krishnaswamy, K. Ganapathy, S. Sudharsanam, Collector M. Prathap, and senior officials attended the event.

Stalin also challenged Shah’s recent Chennai statement that Tamil Nadu’s demands were “diversionary tactics.” He posed pointed questions to Union Home Minister Amit Shah, “Can you exempt Tamil Nadu from NEET? Guarantee no Hindi imposition? Ensure our representation isn’t reduced post-delimitation? Specify the funds allocated to our state?”

Stalin emphasised that Tamil Nadu’s fight is for all states’ rights, citing the DMK’s landmark Supreme Court victory against Governor R.N. Ravi’s delay in approving Bills. “This historic ruling shows we act when the Centre fails,” he said.

Highlighting national awareness of Tamil Nadu’s struggle, Stalin dismissed Shah’s accusations of diversion, urging, “If our demands are distractions, why haven’t you addressed them clearly?” He underscored the state’s resolve to protect its interests, rooted in principles of federalism and justice championed by DMK’s legacy.

During the event, Stalin inaugurated over 6,700 completed projects worth ₹1,166 crore in Tiruvallur, laid foundations for 7,300 new initiatives, and distributed welfare benefits to 2.02 lakh residents.

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India News

22 Maoists surrender in Sukma, cite disillusionment with ideology and tribal atrocities

In a major success for anti-Maoist operations, 22 Maoists, including key commanders, surrendered in Sukma, Chhattisgarh, influenced by state development schemes and new rehabilitation policy.

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Maoists

In a significant development in Chhattisgarh’s Sukma district, 22 Maoists, including nine women, laid down arms before security forces, expressing disillusionment with the Maoist ideology and its violent impact on tribal communities.

Among the surrendered, 12 were carrying a combined bounty of Rs 40.5 lakh. The surrender took place in the presence of senior officials from the police and Central Reserve Police Force (CRPF). Sukma Superintendent of Police Kiran Chavan confirmed the development, highlighting the role of various government schemes and the updated rehabilitation policy in encouraging the cadres to give up arms.

Key Maoist figures among those surrendered

Those who surrendered include Muchaki Joga (33), deputy commander in the People’s Liberation Guerrilla Army (PLGA) company no. 1 under the Maad division, and his wife Muchaki Jogi (28), a member of the same squad. Both carried a bounty of Rs 8 lakh each.

Other notable names are Kikid Deve (30) and Manoj alias Dudhi Budhra (28), area committee members of the Maoists, each carrying a reward of Rs 5 lakh. Additionally, seven individuals carried a bounty of Rs 2 lakh each, while one was wanted with a reward of Rs 50,000.

According to officials, many of these Maoists were involved in several violent attacks against security personnel in the region.

Development schemes helped influence decision

Police officials said the surrender was influenced by the Chhattisgarh government’s ‘Niyad Nellanar’ (Your Good Village) scheme, which focuses on development in remote areas, as well as the newly introduced surrender and rehabilitation policy aimed at providing assistance to former Maoists.

All the surrendered individuals received an initial assistance of Rs 50,000 and will be rehabilitated under the government’s policy. Their surrender was made possible through coordinated efforts of the district police, District Reserve Guard (DRG), CRPF, and its elite CoBRA unit.

Growing trend of surrenders

The recent surrender is part of a larger trend. As per police records, 792 Maoists surrendered across the Bastar region, including Sukma, last year alone. This reflects a growing impact of state-led initiatives to counter insurgency through development and reintegration.

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India rebukes Bangladesh’s remark on Bengal violence, urges focus on minority rights at home

India strongly responded to Bangladesh’s remarks over the Murshidabad violence, calling them unwarranted and urging Dhaka to focus on its own minority rights.

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Police deployment in Murshidabad after Waqf protest violence

India has firmly rejected Bangladesh’s statement concerning the recent communal violence in West Bengal’s Murshidabad district, labelling it as an “unwarranted comment” and a case of “virtue signalling.” The Ministry of External Affairs (MEA) has advised Dhaka to turn its attention inward and ensure the safety and rights of its own minority communities.

The diplomatic exchange was sparked by a comment from Bangladesh’s press secretary Shafiqul Alam, who urged Indian and West Bengal authorities to ensure the safety of “minority Muslim populations” in the region, referring to the unrest related to protests against amendments to the Waqf Act.

Responding strongly, MEA spokesperson Randhir Jaiswal dismissed the remark as a “barely disguised and disingenuous attempt” to equate the situation in India with the “ongoing persecution of minorities in Bangladesh,” where, according to him, perpetrators continue to roam freely.

India’s pushback came in the backdrop of earlier data shared in Parliament by External Affairs Minister S. Jaishankar. He informed that over 2,400 cases of atrocities against religious minorities had been reported in Bangladesh in 2024, following political unrest. In 2025, the number has already reached 72.

The Centre’s statement coincided with the announcement by West Bengal Governor CV Ananda Bose of his upcoming visit to the violence-affected Murshidabad district. Describing his intent to “impose peace at any cost”, the Governor’s decision drew a response from Chief Minister Mamata Banerjee, who claimed that the situation was normalising and urged him to reconsider the timing of the visit.

According to a state report, the protests started peacefully on April 4 but escalated on April 8 when around 5,000 protesters blocked National Highway-12 at Umarpur. The mob allegedly attacked police with firebombs, sharp weapons, and iron rods. Government vehicles were also targeted in the clash.

Further violence was reported on April 11 in Suti and Samsherganj, where both public and private properties were vandalised. Police officials said they had to open fire at Sajur More in Suti in self-defence. So far, 278 individuals have been arrested in connection with the unrest.

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