Overview

• President Donald Trump said a 100% tariff on all imports from China will take effect on November 1 in a post on Truth Social.
• China’s Commerce Ministry condemned the plan as damaging to its interests and warned it would retaliate if required.
• U.S. markets slumped on Friday, with the Nasdaq down 3.56%, the S&P 500 off 2.71% and the Dow lower by 1.90%.
• Asian markets fell on Monday and India opened weak, as the Sensex dropped more than 400 points within minutes and the Nifty slid about 120 points, alongside declines in the Nikkei, Hang Seng and KOSPI.
• Stock-specific moves included PC Jeweller, where over 2.2 million shares traded early as the stock fell more than 2.5% following DRAT-ordered showroom handovers, and Hazoor Multi Projects, which allotted 1.25 million shares at ₹30 each to Seabird Leasing after a warrant conversion.