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13h ago

Trump’s Reciprocal Tariffs Extend Slide in Asian Markets as Indian Stocks Open Lower

Investor focus turns to tariff negotiations, U.S. jobs figures, central bank signals ahead of August 7 implementation date.

A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., July 30, 2025. REUTERS/Jeenah Moon
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The Dow was on track to closer lower every day this week.
Women holding umbrellas stand in front of a stock quotation board outside a brokerage in Tokyo, Japan June 30, 2025. REUTERS/Issei Kato/File Photo

Overview

  • The White House order formalizes tariffs of 10%–41% effective August 7, including a 25% levy on Indian exports that erased multi-month gains in Sensex and Nifty.
  • NSE Nifty 50 futures at GIFT City fell about 0.5% while the dollar/rupee one-month forward jumped to 88, its highest level since February.
  • MSCI’s Asia-Pacific index outside Japan declined 0.4% on August 1 after a 1.5% drop this week, reflecting mounting market volatility from U.S. trade policy.
  • Foreign institutional investors offloaded roughly ₹5,589 crore of Indian equities on July 31, and domestic funds bought about ₹6,373 crore, provisional BSE data showed.
  • Goldman Sachs and Emkay economists estimate only about a 2% incremental drag on MSCI India EPS, noting that financials, technology and consumption remain relatively insulated.