Indian stock markets opened significantly lower due to global concerns over a trade war and potential U.S. recession.

The Nifty 50 index fell by 3.84% to 22,030.25, and the BSE Sensex dropped 3.72% to 72,600.53 by 09:17 a.m. IST. All 13 major sectors experienced losses, with IT companies, which earn a significant portion of their revenue from the U.S., declining by 7%. Broader small-cap and mid-cap indices also saw declines of 6.2% and 4.6%, respectively. This downturn follows U.S. President Donald Trump's announcement of extensive tariffs, which Federal Reserve Chair Jerome Powell indicated could impact inflation and economic growth.