The Indian stock markets took a severe beating on Friday as the Sensex nosedived 400 points and the Nifty fell below the 10000-mark amid speculations of a US-China trade war.
The benchmark BSE Sensex fell over 400 points in opening trade after US President Donald Trump imposed tariffs on imports from China, signaling a meltdown in the global economy resulting in a panic among the investors.
Most of the leading Asian stock markets opened in the red on Friday morning, following which the benchmark Sensex crashed as much as 355 hitting a fresh 4-month low to open below 33,000-mark whereas NSE Nifty tumbled on the same lines diving about 146 points slipping below 10,000-level.
Almost all the stocks of the BSE Sensex hovered into negative territory on Friday with shares of market leaders like Reliance Industries, ICICI Bank, HDFC Bank, Infosys, HDFC, Tata Steel and ITC taking a massive hit.
Among the neighborhood markets, Japanese stock market was the worst hit followed by Hong Kong, China and South Korea.