Trump tariffs lead to Nifty 50’s worst day since 2024

Trump Tariffs lead to Nifty 50’s worst day in 10 months

The Nifty 50 index crashed by over 1,000 points in trade on April 7, after U.S. President Trump's 'Liberation Day ' on April 2 sent shockwaves through global markets. This session is the domestic benchmark index's worst single-day drop since June 4, 2024, the day of the Lok Sabha election results.

Ongoing fears of global recession have wiped out a massive Rs 16 lakh crore in market value — the sharpest intraday collapse as observed since June 2024.

What happened in June 2024?

On June 4, 2024, the Nifty had dropped 6 percent in one day, hitting a low of 21,281 after the election outcome surprised the markets. However, the index bounced back strongly over the following three months, eventually touching a record high of 26,277. But since that peak, it has gradually fallen — and is now down around 17 percent.

Let’s look back at some of the most painful trading sessions in Indian market history:

March 23, 2020 – COVID panic

Fall: Nearly 13 percent in a single day.

Trigger: A day before India announced a national lockdown due to the COVID-19 pandemic, panic selling gripped the markets. The next day, Nifty touched 7,511, its lowest point during that crash, before rebounding into the ongoing bull market.

May 17, 2004 – Political shock

Fall: 12 percent.

Trigger: Election results. The markets had expected the BJP to win, but the Congress party pulled off a surprise and formed a coalition government. Investors feared political instability.

October 24, 2008 – Global financial crisis

Fall: 12 percent.

Trigger: The GFC roiled the international markets, with trading halted across global bourses. On the same day, the RBI kept interest rates unchanged and cut GDP growth forecasts, adding to investor worries.

January 21, 2008 – Recession fears

Fall: Around 8.7 percent.

Trigger: As the US showed signs of entering a recession, foreign investors started pulling money out of Indian stocks. The Nifty fell in line with global markets.

March 31, 1997 – Political uncertainty

Fall: 8.5 percent.

Trigger: Just a month after Finance Minister P. Chidambaram presented the famous "Dream Budget", the Congress party withdrew support from the ruling government, triggering political chaos.

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