Negative start likely for Dalal Street amidst sharp selloff in US markets, Asian markets

GIFT Nifty indicators were trading more than 300 points lower

Indian markets are poised for a negative opening on April 11, weighed down by lackluster global cues. As of 8:00 a.m., GIFT Nifty indicators were trading more than 300 points lower, marking a decline of approximately 1.3 percent.

Overnight, all three major indices on Wall Street drifted into the red, surrendering a portion of the impressive gains from the prior session. This comes in the wake of President Donald Trump’s announcement of a 90-day delay on certain “reciprocal” tariffs, which had briefly fueled a historic market rally.

The S&P 500 dropped sharply by 3.46 percent, the Nasdaq Composite tumbled 4.31 percent, and the Dow Jones Industrial Average declined by 2.5 percent.

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In the bond market, the 10-year US Treasury yield dipped by 1 basis point to 4.386 percent, while the 2-year yield plunged more than 12 basis points, settling at 3.827 percent.

This downward momentum was echoed across Asia-Pacific markets as well. Regional indices reacted to Wall Street’s renewed sell-off and escalating trade war concerns between the United States and China, which reignited a risk-off sentiment among investors.

Australia’s S&P/ASX 200 retreated by 2.28 percent. Japan’s Nikkei 225 suffered a steep decline of 5.46 percent, with the broader Topix index shedding 5.05 percent. In South Korea, the Kospi fell 1.55 percent, and the small-cap Kosdaq edged down by 0.11 percent. Meanwhile, Hong Kong’s Hang Seng Index slipped 0.8 percent, and China’s CSI 300 registered a modest dip of 0.13 percent.

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