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Donald Trump’s tariff tantrums on April 2, are now nursing their wounds. The Nifty Pharma index tumbled 4% on Friday, slamming the brakes on a relief rally that lasted less than 24 hours. Investors who had rushed into stocks like Laurus Labs, Aurobindo Pharma, Lupin, Biocon, Gland Pharma and Cipla watched them fall between 5% and 7% in a single session. The shock came courtesy of Trump’s chilling declaration: Pharma tariffs are “going to be starting to come in… at a level that you haven't really seen before.” The announcement, he said, is “under review right now” and will be made “in the near future.”

death toll from Myanmar's devastating earthquake climbed to 3,354, with 4,850 injured and 220 missing, state media said on Saturday, as the visiting U.N. aid chief praised humanitarian and community groups for leading the aid response. The leader of the military government, Senior General Min Aung Hlaing, was back in the capital Naypyitaw after a rare foreign trip to attend a summit in Bangkok of South and Southeast Asian nations, where he also met separately with the leaders of Thailand, Nepal, Bhutan, Sri Lanka and India. Min Aung Hlaing reaffirmed to Indian Prime Minister Narendra Modi the junta's plans to hold «free and fair» elections in December, Myanmar state media said. Modi called for a post-quake ceasefire in Myanmar's civil war to be made permanent, and said the elections needed to be «inclusive and credible», an Indian foreign affairs spokesperson said on Friday. Critics have derided the planned election as a sham to keep the generals in power through proxies.

Such units are among the thousands of troops that South Korea's spy agency says Pyongyang has deployed to Russia to support Moscow's war against Ukraine. During the visit to a special operations unit on Friday, Kim said the «actual war capability for guaranteeing victory in the war field is bolstered up through intensive training,» the Korean Central News Agency (KCNA) reported. He added that their training is «the most vivid expression of patriotism and loyalty to the country,» according to the agency. Images released by state media showed Kim peering through the scope of a sniper rifle that KCNA said was going to be «newly supplied to special operation units».

trade war spurred the biggest losses since the pandemic. The Dow Jones Industrial Average, S&P 500 and the Nasdaq Composite posted their largest two-day declines since the emerging coronavirus caused global panic during U.S. President Donald Trump's first term. For Thursday and Friday, the Dow was down 9.3%, the S&P 500 10.5% and the Nasdaq 11.4%.

trade tariffs, industrialist Anand Mahindra believes India is being overlooked — and that could be a big mistake. On Wednesday, U.S. President Donald Trump announced sweeping reciprocal tariffs on global trade partners, including a 34% duty on Chinese goods. In response, China hit back with a 34% tariff on all imports from the U.S., escalating fears of a prolonged trade war. While the spotlight has largely remained on China, the U.S. also slapped a 26% reciprocal tariff on Indian goods, citing high import duties imposed by New Delhi. Amid this global shake-up, Mahindra sees an opening for India. Taking to X, the Mahindra Group Chairman said that while most global forums are focused on how China may benefit or retaliate, India remains a “non-topic of discussion." However, he argued that India is poised to become the world’s third-largest economy and, as the world’s largest democracy, is uniquely positioned thanks to its vast domestic consumption and strong supply chains. Mahindra also called for a “measured reaction” to tariffs, urging India to adopt smart policies that help it emerge as the world’s most reliable economic partner — and a key pillar in a new, multipolar global order.

Ukrainian President Volodymyr Zelenskyy on Saturday confirmed that the death toll from recent Russian strikes has reached 16 in Kryvyi Rih, including six children, while five others were killed in Kharkiv following a targeted drone attack. He further said that 34 people were also injured in the strike, which involved six «Shahed» drones. Sharing a post on X, Zelenskyy wrote, «Rescue operations are currently underway in Kryvyi Rih following a Russian missile strike. As of now, 16 people are confirmed dead, including six children. In Kharkiv, rescue efforts continued all day after a targeted Russian drone strike. A deliberate attack by six „Shahed“ drones. Sadly, five people were killed. Thirty-four were injured. My condolences to all the families and loved ones. In Kherson — another targeted strike by a Russian FPV drone hit an energy facility — the Kherson thermal power plant.» He further said, «These strikes cannot be accidental — the Russians know exactly what they're hitting. They know these are energy facilities that should be protected from attacks under what Russia itself promised to the American side. Every Russian promise ends with missiles or drones, bombs or artillery. Diplomacy means nothing to them.»

Indian equities were swamped by a wave of selling that swept riskier assets globally on Friday, tracking Wall Street's overnight slump-the worst since 2020-in response to US President Donald Trump's reciprocal tariff regime that has led to fears about a global downturn. NSE Nifty fell 1.5%, or 345.65 points, to finish at 22,904.45. BSE Sensex dropped 1.2%, or 930.67 points, to 75,364.69. The slump wiped out ₹10 lakh crore in market value Friday.

tariff war between the US and China led to a sharp downturn. The Nifty Metal index plunged 6.6%-its worst day since the announcement of general election results in June 2024.

Subscribe to enjoy similar stories. President Trump’s start-and-stop expansion of tariffs on trading partners has no analog in modern history. President George W.

trade war fears rage on. Dow Jones futures are down as much as 3%, while Nasdaq is on track to fall another 3%. This came after China pledged additional tariffs on US goods in retaliation to Trump's reciprocal levies. US stocks fell sharply on Thursday too with S&P 500 plunging nearly 5%, its largest one-day percentage decline since June 2020.

retaliatory measures, including steep tariffs and export controls on critical materials. The Chinese Finance Ministry has said that starting April 10, Beijing will impose additional tariffs of 34% on all US goods, adding fuel to the already fiery trade war. This comes as a direct response to Trump's recent trade actions, including reciprocal tariffs at 34% and export bans targeting Chinese firms. Meanwhile, the Commerce Ministry has said it is adding 16 US entities to its export control list, further restricting their access to Chinese markets and technologies. Additionally, 11 American firms have been placed on China’s ‘unreliable entity’ list, according to state broadcaster CCTV.

European Central Bank could cut rates as soon as this month, Nomura said. U.S. President Donald Trump imposed sweeping tariffs on dozens of countries on Wednesday, which intensified the threat of a global trade war and fuelled fears of a global economic slowdown, or even a recession. The tariffs are «worse than feared», said Nomura, lowering its U.S. GDP growth estimate to 0.6% from 1.5%, on a quarterly basis, and hiking to 4.7% from 3.5% its forecast for year-end core PCE, the Fed's preferred inflation gauge. As a result, the brokerage expects the Fed to lower rates in December, taking the policy rate to 4.125%, followed by two more 25 bps cuts in the first quarter of 2026. It had previously expected the central bank to hold at 4.25%-4.5% until the second quarter of 2026.

reciprocal tariffs for India to 26% from 27% announced a day before. Revisions have been made for atleast 14 countries including South Korea, Norway, South Africa and Thailand. As per a White House document, India’s reciprocal tariff was originally listed at 27%, as against the 26% that US president Donald Trump had shown during the announcement on April 2. However, the latest annex document shows that the tariffs have been revised down to 26%. The US’ trading partners will be subject to a global 10% tariff on April 5, after which only the countries listed in the annex would have their rates elevated to the revised numbers. Around 60 countries have been slapped with reciprocal tariffs. The measures announced by the US could lead to an overall contraction of around 1% in global merchandise trade volumes this year, the World Trade Organization (WTO) said Thursday.

Reliance Industries Ltd (RIL) fell 4.3% to Rs 1,194 in Friday’s intraday trade on the BSE, as markets reacted to global developments, including the Trump administration’s latest tariff revisions. According to a White House document released on Friday, reciprocal tariffs have been updated for 14 countries, including India. While Trump had earlier announced a 27% tariff on Indian goods, the revised figure now stands at 26%. The aggressive tariff stance has reignited concerns over a potential global trade war, dampening sentiment across sectors — with heavyweights like RIL also coming under pressure.

«It is the right time to stick to the domestic side, where again the sectors like banking, again financially, if you look even in this current corrective phase banking as a sector clearly is showing the relative outperformance even in this current corrective phase,» says Dharmesh Shah, ICICI Direct. What should one expect because I am sure the charts must be going all over the place with the news flow being so volatile? Dharmesh Shah: Yes, definitely, the things are not in line with expectations. But we believe the market should form more of a higher base formation in this current corrective phase.

Vladimir Putin of dragging his feet in ceasefire talks to bring a halt to fighting in Ukraine and ramped up pressure on Moscow by insisting that he owes the United States an immediate answer. Russia has effectively rejected a U.S. proposal for a full and immediate 30-day halt in the fighting after a Kremlin official said on Monday that Moscow views efforts to end its three-year war with Ukraine as «a drawn-out process.» «Our judgment is that Putin continues to obfuscate, continues to drag his feet,» British Foreign Secretary David Lammy told reporters at NATO headquarters, standing alongside his French counterpart Jean-Noel Barrot in a symbolic show of unity. Britain and France are helping to lead a multinational effort known as the «coalition of the willing» to set up a force to police any future peace in Ukraine. Lammy said that while Putin should be accepting a ceasefire, «he continues to bombard Ukraine. It's civilian population. It's energy supplies. We see you, Vladimir Putin. We know what you are doing.»

Subscribe to enjoy similar stories. MUMBAI : Indian equities outperformed their Asian peers on Thursday, the day US President Donald Trump announced sweeping new tariffs that threaten to destabilize the world trade order. However, Siddhartha Bhaiya, managing director and chief investment officer of Aequitas Investment Consultancy, thinks a one-day reaction barely scratches the surface of the move’s impact.

The S&P 500 ended down almost 5% after U.S. President Donald Trump's sweeping tariffs ignited fears of an all-out trade war and a global economic recession.

World Trade Organization (WTO) said Thursday.

Trump claims to have fixed tariffs at half the level of those imposed by other countries. Hardly any country has only one tariff on everything. So, presumably, he — or his arithmetically-educated advisers — would have to calculate an average of country tariffs. A simple average would make no sense. Although the assumption that he distinguishes between sense and nonsense would be too strong. So, the average would have had to be weighted by the relative importance of the imported goods. We have no idea how the weights were calculated. USTR has given the formula used to calculate the tariff. But it has a symbol — ε (epsilon) — in it that makes all the difference. It has neither given the symbol’s value, nor how it was calculated. All that Trump has told us is that his closeness to the leader of the exporting country made no difference to the tariff. In other words, the rate of return on our PM’s conviviality has been zero. Should we worry about Trump’s abrupt, startling aggression? The US is our biggest customer among all countries. In 2023-24, it took 17.4% of our exports. Optimists may say that it’s wrong to take physical exports. Our biggest exports to the US have been intellectual services. But that only adds to America’s importance.

World Trade Organization said new tariffs announced by the U.S. along with those introduced at the start of the year could lead to a contraction of around 1% in global merchandise trade volumes in 2025. «I'm deeply concerned about this decline and the potential for escalation into a tariff war with a cycle of retaliatory measures that lead to further declines in trade,» Ngozi Okonjo-Iweala said in a statement on Thursday. She warned that the tariffs have the potential to create significant trade diversion effects. The WTO administers 74% of global trade, down from around 80% at the beginning of the year due to recent tariffs, according to the organisation. World leaders have warned of the potential negative economic consequences of the tariffs. «President Trump's announcement of universal tariffs on the whole world, including the EU, is a major blow to the world economy,» European Commission President Ursula Von Der Leyen said.