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‘Black Monday 2.0’: Trump’s Tariffs Trigger Global Stock Market Crash | TDG Explainer

April 7, 2025, 12:11 pm

Asian markets plunged on Monday, triggering fears of a second global stock market crash. The panic occured after US President Donald Trump’s unexpected tariff declaration last week. Japan’s Nikkei fell almost 9%. India’s Nifty plummeted more than 1,000 points. South Korea’s Kospi triggered a technical halt in trading. Some experts now worry that this may be a contemporary version of the 1987 “Black Monday” crash. Trump, however, is defiant. He claims this market pain is “medicine” for fixing trade deficits. So, are we looking at Black Monday 2.0?

Asian Markets React Sharply to Trump’s Tariffs

Asian investors awoke to turmoil. Markets opened well in the red following Trump’s April 2 tariff announcement, which became effective. Japan’s Nikkei 225 plummeted over 8% shortly after the opening bell. The Topix index, broader in scope, declined over 7.5%. Large Japanese banks—Mitsubishi UFJ, Mizuho, and Sumitomo Mitsui—lost over 12% each. Shares of Honda and Nissan also crashed.

South Korea’s Kospi declined 4.4%. A circuit breaker was activated, suspending trade for a short while. Taiwan’s Taiex dropped close to 10%. Heavyweights such as TSMC and Foxconn reached their daily limits.

China’s Shanghai Composite opened lower by 4.5% and continued to slide. It last traded 6.7% lower. The blue-chip CSI300 fell 7.5%. Hong Kong’s Hang Seng opened lower by more than 9%.

In Australia, the ASX 200 dropped over 6%. Over $160 billion of market value disappeared. New Zealand’s NZX 50 declined 3.5%. The selling was indiscriminate and vicious.

India was not spared either. The NSE Nifty50 plummeted over 1,000 points. BSE Sensex dropped close to 4,000 points in initial trading.

Around the world, US stock futures declined dramatically as well. S&P 500 futures fell 4.2%, Dow Jones futures fell 3.5%, and Nasdaq futures declined 5.3%.

Trump’s Position on Market Chaos

Despite the chaos, Trump held his ground. He waved off concerns of a crash. On Truth Social, he called it an “economic revolution.” He told Americans to “hang tough.”

He called tariffs “a beautiful thing” that would correct years of trade abuse. “Sometimes you have to take medicine to cure something,” Trump said, talking about the crash.

On April 5, tariffs of 10% took effect. Steeper tariffs—11% to 50%—will become effective on April 9. Trump accused “Sleepy Joe” Biden of previous trade deficits. He promised to turn them around “quickly.

Business leaders and economists raised red flags. Many warned that sudden policy shifts could slow growth, spark trade wars, and shake global investor confidence.

What Occurred on Black Monday in 1987?

The first Black Monday occurred on October 19, 1987. That day, the Dow Jones Industrial Average fell 22.6%. It is the largest one-day percentage decline in US history.

The sell-off didn’t remain in the US for long. It went global in hours. London’s FTSE 100 dropped 25% that week. Japan’s Nikkei fell over 13%. Frankfurt, Hong Kong, Amsterdam, and Sydney all got slammed.

So what triggered it?

Experts attributed a combination of program trading, overpriced stocks, and fears of rising interest rates. But most importantly, it demonstrated just how interdependent world markets had become.

Thomas Thrall, an economist-turned-trader with the Federal Reserve Bank of Chicago, remembered the day vividly. “It was very scary,” he replied. “Folks began to realize the interconnectedness of the markets worldwide.”

What it took was concerted action from the Federal Reserve of the US Central banks reassured markets, and the system stabilized gradually.

Will Black Monday 2.0 Actually Happen?

It’s not 1987. But indications are strangely similar.

Jim Cramer recently warned about this. On his program, he told a 1987-style crash would be repeated if Trump did not negotiate with trading partners. “We will know it by Monday,” he stated.

He was not far behind. Markets have collapsed in Asia. US futures followed through. Panic selling has begun.

Is this Black Monday 2.0?

There are parallels. A policy shock. Panic selling. Circuit breakers. Global contagion.

There are differences also . The 1987 crash was caused by market mechanics—algorithmic trading and valuation problems. This time, the cause is political—Trump’s belligerent tariff policy.

Another crucial difference is the central bank action. In 1987, the Fed moved decisively. Now, it’s not yet known whether the Fed or any other large central bank will act.

If tensions escalate and retaliation sets in, the harm can worsen. A second Black Monday may not resemble the first in all ways—but its damage could be equally devastating.

Investor Sentiment and Market Outlook

Investor sentiment is currently unstable. Most are withdrawing money from equities. Inflows are going towards gold, US Treasuries, and the dollar.

Experts predict that earnings projections will decline. Export-oriented sectors such as tech and manufacturing might bear the worst hit.

Goldman Sachs warned that firms with substantial debt levels will be vulnerable to cash flow crises. Markets can expect further volatilities as long as policy uncertainty persists.

Fund managers are already redirecting strategies. Some are downscaling risk exposures. Others are hedging very aggressively, anticipating further turbulence.

What follows is dependent on two things—how world markets respond over the next few days and if Trump changes his strategy. If not, volatility may intensify. And Black Monday 2.0 may not be just a figure of speech. It may become a reality.

Trump’s tariffs have triggered a worldwide sell-off. Markets around the world and in Asia are in a free fall. The specter of another Black Monday is not just a fear. It may not be an exact replica of 1987, but the warning signs are there.

With trillions of dollars erased from world markets and no indication of a policy shift, governments and investors have to tread carefully. History doesn’t repeat—but it does rhyme. And Black Monday 2.0 might already be upon us.

Top Stocks On Market Watch: Strategic Shifts At Torrent Pharma, Indus Towers, And More

December 5, 2024, 9:13 am

Indian stock markets are said to open in a positive stride on December 5, as their performance on Wall Street has been the best. US markets witnessed a continued rise, whereby the Dow Jones reached the value of 45,000 marks for the first time while the S&P 500 went to close near 6,100, marking a growth of 0.6 percent. Asian markets, however, entered with mixed movements.

The rally in US stocks was boosted by upbeat comments from Federal Reserve Chair Jerome Powell at the New York Times DealBook Summit. Powell mentioned the robustness of the US economy and reduced downside risks in the labor market, implying a careful but steady approach to cutting interest rates toward a neutral level.

Key Stocks in Focus

Indus Towers: Vodafone Group Plc yesterday announced plans to sell its remaining 3% stake in Indus Towers through an accelerated book-build offering. The proceeds, estimated at $331.5 million or ₹2,800 crore at Wednesday’s closing price of ₹353.60 per share, will mostly be used to repay the $101 million debt associated with its Indian assets.

ALSO READ: Bitcoin Surpasses $100,000, Reaches New All-Time High Amid Optimism Over Trump’s Crypto Plans

Torrent Pharmaceuticals: Torrent Pharmaceuticals disclosed that it acquired three critical brands—Cospiaq, Cospiaq Met, and Xilingio—from Boehringer Ingelheim International GmbH. It is going to improve its product line in the diabetes care segment by this strategic move.

Dynamische Dienste & Security: The Maharashtra Government came up with the Package Scheme of Incentives (PSI) 2019 offering an offer letter for a “Mega Project”. The project envisages putting up a solar PV panel manufacturing unit with 1,800 MW capacity in Raigad district of Maharashtra that requires ₹ 1,080 crores of investment.

Bondada Engineering: Bondada Engineering won an order worth ₹108 crore from the Bihar Renewable Energy Development Agency. The work includes designing, supplying, installing, and maintaining smart solar streetlights under the Mukhyamantri Gramin Solar Street Light Yojana.

Mazagon Dock Shipbuilders: The company responded to recent media reports about three more Scorpene-class submarines under Project 75, stating that commercial negotiations are on, and no such decision has been communicated to them.

Metropolis Healthcare: Equity shares on preferential allotment issue to be approved, while The board of directors will meet December 9 to deliberate over the approval of preferential equity share issue, sign of potentially raising funds.

Hero MotoCorp: Hero MotoCorp revealed the new VIDA V2 electric scooter range aimed for aspirational yet affordable electrical solutions for mobility, under which hero maintained its leadership in the Ev markets

Indraprastha Gas: Indraprastha Gas declared a Board meeting scheduled for 10 December to take the deliberations on bonus shares issuing proposition, benefiting the company’s equity shareholders, perhaps.

Market Outlook

Market seems positive going ahead given that world indices are moving higher. Corporates will remain keen on taking big moves hence this can work well for a high-range opening. Investors will wait to take their cues from the stocks aforementioned as well as macro economics going ahead today.

Stock Market Crash: Anand Mahindra Recommends Pranayama While Investors Share Memes- See Posts

August 5, 2024, 2:43 pm

As the global stock market dived, Indian business tycoon Anand Mahindra used the opportunity to share a touch of wisdom and wit on social media. On Monday, the Sensex and Nifty both experienced significant drops, with the Sensex tumbling over 3% from 78,588.19 to 78,295.86 and the Nifty 50 falling from 24,302.85 to 23,893.70.

The Stock market crash was largely attributed to growing concerns about a potential recession in the United States. According to experts, other contributing factors include rising tensions in the Middle East, stretched valuations, technical issues, and disappointing first-quarter results.

In response to the market turmoil, Mahindra took to X (formerly Twitter) with a lighthearted yet insightful comment: “Never a better time to deploy the ancient Indian practice of Pranayama. It’s about breathing deeply and looking inwards. What I see is an India that is an oasis in the world. Whose Rise will not be impeded in the medium to long term. Play the long game.”

See Post Here:

Never a better time to deploy the ancient Indian practice of Pranayama.

It’s about breathing deeply and looking inwards.

What I see is an India that is an oasis in the world. Whose Rise will not be impeded in the medium to long term.

Play the long game… https://t.co/UASfOSjQ10

— anand mahindra (@anandmahindra) August 5, 2024

Mahindra’s post resonated with many, amid a flurry of social media reactions that included both serious analysis and humorous memes. One user shared a meme depicting the anxiety of investors constantly checking their portfolios for changes, highlighting the emotional impact of the market fluctuations.

See Posts Here:

Investors looking at portfolio falling from today morning..#stockmarketcrash #StockMarketindia pic.twitter.com/5OmZ5ihK3u

— MemeOverlord (@MemeOverlord_kk) August 5, 2024

Me checking portfolio every few mins..#stockmarketcrash #Japan pic.twitter.com/tBIfSbOf3O

— MemeOverlord (@MemeOverlord_kk) August 5, 2024

Message to anyone who is logging to check portfolio today #stockmarketcrash #Japan pic.twitter.com/yIyjhIiRAw

— Finance Memes (@Qid_Memez) August 5, 2024

As the stock market grapples with these challenges, Mahindra’s advice to remain calm and focus on the long-term prospects of India offers a hopeful perspective in turbulent times.

Stock Market Today: BSE Sensex Tops 80,000; Nifty50 Hits New Lifetime High

July 3, 2024, 10:07 am

In a notable surge, the BSE Sensex and Nifty50, India’s key equity benchmark indices, reached historic highs during today’s trading session. The 30-share Sensex surpassed the monumental 80,000 mark for the first time, while the Nifty50 also set a new peak at 24,292.

As of 9:22 AM, the BSE Sensex was trading at 79,935.12, marking a gain of 494 points or 0.62%. Similarly, the Nifty50 stood at 24,257.60, up by 134 points or 0.75%. This remarkable performance follows a recent bout of profit booking on Tuesday, as the Nifty briefly exceeded the 24,200 level.

Market analysts from Motilal Oswal Financial Services anticipate continued upward momentum, suggesting consolidation at elevated levels. Factors influencing future trends include upcoming remarks by Federal Reserve Chairman Powell and the release of meeting minutes, likely to introduce volatility.

According to Nagaraj Shetti of HDFC Securities, the Nifty’s long-term chart remains robust, foreseeing a potential resumption of upward momentum post-consolidation. Key technical levels indicate immediate support at 23,980, with resistance expected around 24,400.

Internationally, global markets exhibited mixed signals: S&P 500 and Nasdaq 100 futures showed minimal movement, while Hang Seng futures climbed 0.5%, Japan’s Topix rose 0.2%, Australia’s S&P/ASX 200 increased by 0.3%, and Euro Stoxx 50 futures saw a 0.3% rise. In the forex market, major currencies like the euro, Japanese yen, offshore yuan, and Australian dollar maintained stability against the US dollar.

The ongoing developments in both domestic and international markets are poised to influence investor sentiment and trading patterns as the session progresses.

Stock Market Today: Sensex, Nifty Flatline Post Record High Opening Following PM Modi’s Oath

June 10, 2024, 2:45 pm

Indian stock market shares eased today (June 10) after hitting record highs, with IT stocks falling amid concerns over potential US rate cuts. Benchmark indices surged initially led by Reliance Industries Ltd and Axis Bank Ltd, following Narendra Modi’s third term oath-taking. NSE Nifty 50 reached a new high of 23,411.90, and Sensex touched 77,079.04.

Major gainers on the Nifty included Adani Ports, Power Grid Corp, Bajaj Auto, Coal India, and Shriram Finance, while Tech Mahindra, Infosys, Dr Reddy’s Labs, LTIMindtree, and Hindalco were among the biggest losers. All sectoral indices, except IT and metal, traded in the green.

On Friday (June 7), BSE Sensex hit a new peak of 76,795.31, ending at 76,693.36, up 2.16%.

In global markets, the euro weakened as French President Macron announced a snap election post-European Parliament elections. Stock market in China, Hong Kong, Taiwan, and Australia were closed for holidays. Yield on 10-year Treasuries rose, influenced by a strong US jobs report, while oil steadied after a weekly drop, ahead of key industry reports and the Fed’s rate decision.

Indian Stock Market: 7 Key Weekend Changes From Gift Nifty To Modi 3.0 And US Nonfarm Payrolls

June 10, 2024, 11:52 am

The Indian stock market indices, Sensex and Nifty 50, are anticipated to commence trading on a tepid note today, mirroring mixed signals from global counterparts. Asian markets exhibited varied trends, while the US stock market witnessed a slight decline last week amid speculation regarding potential interest rate cuts by the US Federal Reserve.

Traders are closely monitoring the possibility of a rate reduction in September, with a 56% probability, according to the CME’s FedWatch tool. Additionally, the formation of the new government under Prime Minister Narendra Modi, who along with his 71 ministers, took oath on Sunday, is expected to impact market sentiment.

In the previous session, Indian stock market indices concluded at record closing highs, driven by the Reserve Bank of India’s decision to maintain the repo rate and policy stance unchanged. The Sensex surged 1,618.85 points, or 2.16%, to settle at 76,693.36, while the Nifty 50 soared 468.75 points, or 2.05%, closing at 23,290.15.

Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services Ltd., remarked, “Now hopes have revived that the US Federal Reserve might cut interest rates in the September meet based on recent macro data points. This week, focus will be on allocation of key cabinet portfolios such as Finance, Defense, Roads, Energy, Commerce, and Railways. The market will continue to be volatile with upward biasedness.”

Investors will closely monitor global and domestic triggers this week, including the US Federal Reserve policy, Bank of Japan interest rate decision, US inflation data, India’s retail inflation data, and key policy decisions of the BJP-led coalition government.

In Asian markets, Japan’s Nikkei 225 gained 0.19%, and the Topix rose 0.38%, while South Korea’s Kospi fell 1% and the Kosdaq dropped 0.5%. Notably, stock markets in mainland China, Hong Kong, Taiwan, and Australia are closed today.

The Gift Nifty is currently trading around the 23,290 level, indicating a weak start for the Indian stock market indices with a discount of nearly 40 points from the Nifty futures’ previous close.

Stock Market Today: Sensex And Nifty Plummet As NDA Falls Short Of 300-Seat Mark

June 4, 2024, 12:03 pm

The stock market faced a significant downturn on Tuesday as the Bharatiya Janata Party (BJP) struggled to secure a decisive lead in the ongoing national election results. By 11 AM, it became clear that the BJP on its own is unlikely to cross the halfway mark, although it is certain that with allies, the National Democratic Alliance (NDA) will form the government at the center. The idea of a coalition government led by the BJP has led to widespread market anxiety and a sharp decline in stock indices.

Since the opening of trading on Tuesday, investor sentiment has been notably bearish. The Bombay Stock Exchange’s benchmark Sensex plummeted by 3905.15 points. Similarly, the Nifty 50 index suffered a substantial drop, falling 1061.05 points by 11 AM. The decline in stocks was widespread, affecting various sectors including banking, automotive, and technology. Major companies like Reliance Industries, HDFC Bank, and Infosys saw significant drops in their share prices, contributing to the overall market downturn. Shares of Bank of Baroda, PNB, SBI, IndusInd Bank, Bandhan Bank, and Axis Bank slipped up to 9 percent, compared to a 5 percent decline in the Bank Nifty index.

Market analysts attribute the steep decline to political uncertainty. The BJP, which has been the dominant force in Indian politics for the past decade, is seen as a pro-industry party whose policies have generally favored economic growth and market stability. The failure to secure a clear majority by the BJP on its own raises concerns about the formation of a stable government and the continuation of economic reforms. Sunil Shah, a market expert, commented, “Yesterday, the market acted on the outcome of exit polls. The early trends are showing that the gap or the lead is not that big, so the market is reacting to that. The market will remain volatile throughout the day.”

In addition to political uncertainty, global market trends and domestic economic indicators have also played a role in the current market volatility. Rising oil prices, inflation concerns, and recent global economic slowdowns have compounded the impact of election jitters on investor sentiment. As the day progresses, the market will remain focused on the final tally and the BJP-led NDA’s final majority figure.

Market Crash: Sensex and Nifty Tumble, Falls Up To 3.5%

June 4, 2024, 10:05 am

The Indian equity witnessed a significant market crash on Tuesday as soon as trading commenced at 9:15 am, despite early trends indicating a lead for the BJP-led NDA alliance. However, these early trends also suggested that the opposition INDIA bloc’s seat tally might surpass what exit polls had anticipated.

Both the frontline indices, BSE Sensex and NSE Nifty50, opened 2% lower on Tuesday, following their surge of more than 3% each on Monday. The selling pressure intensified quickly, leading to a sharp decline of 3.5% for both indices. The Sensex hit a low of 73,659, while the Nifty reached a low of 21,179 on Tuesday.

The market heavyweight Reliance Industries experienced a significant drop of over 4%, while stocks of the Adani Group plummeted by up to 10%.

V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, emphasized that the market had already factored in a clear win for the NDA and a majority for the BJP, evident from the 733-point rally in the Nifty the previous day. He advised investors to refrain from rushing into buying decisions, even if the results confirm the exit polls, suggesting instead to remain invested in large caps and consider profit booking in small caps.

Aditya Gaggar, Director of Progressive Shares, highlighted that the Nifty50 had formed a hanging man candlestick pattern on the daily chart, indicating a potential trend reversal. However, he emphasized that the outcome of the general elections would likely influence the market trend, leading to considerable volatility on both sides.

Gaggar also noted that while all sectors had shown strong outperformance in the previous session, with some reaching record levels, it was prudent to wait for a clearer picture amidst the probable volatility.

This abrupt market crash underscores the cautious sentiment among investors, who are closely monitoring the evolving political landscape for potential implications on the economy and market stability

BSE Sensex Inches Closer to the 70,000 Mark, Currently at 69,800

December 8, 2023, 1:52 pm

The BSE Sensex is on the verge of crossing the significant threshold of 70,000, with the index presently hovering around 69,800. This notable ascent comes amid growing market optimism, supported by various factors influencing investor sentiment. According to online sources and financial reports, the market’s upward trajectory is attributed to positive economic indicators, expectations of stable interest rates, and insights from financial experts. As the Sensex nears this historic milestone, investors are closely monitoring developments in the global and domestic economic landscape for potential implications on market dynamics.

In a recent interview with Moneycontrol, Shradha Sheth, the Head of Equities at Neo Wealth and Asset Management, expressed her outlook on interest rates, market sentiment, and sectoral growth for the fiscal year 2024. Sheth expects interest rates to remain steady throughout FY24, with the possibility of initiating a gradual reduction cycle starting in June 2024.

“We expect market sentiment to continue strengthening,” Sheth stated, highlighting her positive outlook on the market. She anticipates that the BSE Sensex may soon surpass the psychological threshold of 70,000. Further gains, potentially reaching 75,000, are expected to be driven by robust demand, earnings growth, and macroeconomic factors. Sheth also emphasized the impact of the upcoming Lok Sabha elections and the current government’s victory on market dynamics.

Providing insights into sectors poised for growth in 2024, Sheth drew on her 15 years of experience in Indian equity markets. She identified financials, automotive, capital goods/industrials, utilities, cement, healthcare, pharmaceuticals, and consumer discretionary as sectors expected to benefit from economic strength.

Examining the Nifty’s current valuation, which stands at 19.3x FY25 EPS, slightly below its long-term average of 20x, Sheth highlighted the recent electoral win by the BJP in major state elections. This victory, along with growing expectations of an impending rate-cut cycle in the US, is seen as contributing to the sustained favourable valuations in the Indian market.

Sheth’s optimism is grounded in historical trends, pointing out that the six months following general election results (November to May) in previous instances (1999 to 2019) have yielded positive returns for the Nifty, ranging from 9 per cent to 36 per cent. As the market braces for potential positive outcomes, Shradha Sheth remains optimistic about the continued strengthening of market sentiment.

Nifty Achieves Historic Milestone, Surpasses 21,000 Mark Amidst Positive Market Trends

December 8, 2023, 1:20 pm

In a historic development, the Nifty index marked a new pinnacle, crossing the unprecedented 21,000 level for the first time on Friday, December 8. Soaring as high as 105 points in intra-day deals, the Nifty index culminated at 21,006.10, showcasing an upward momentum from the previous day’s close at 20,901.15. Notably, it took the Nifty just 61 sessions to ascend from 20,000 to 21,000 after reaching the 20,000 mark on September 11 earlier this year.

Simultaneously, the Sensex also achieved a record high of 69,888.33 in intraday transactions, registering a substantial gain of nearly 367 points. The surge in the market was fueled by the Reserve Bank of India’s decision to maintain the repo rate at 6.5%, coupled with an upward revision in the FY24 GDP forecast to 7% from the prior estimate of 6.5%. Despite retaining the FY24 CPI inflation projection at 5.4%, the Monetary Policy Committee reaffirmed its commitment to a policy stance focused on the “withdrawal of accommodation.”

Anticipating short-term market dynamics, experts predict a range-bound behavior for the Nifty within 20,850-21,000, citing support levels between 20,675 and 20,725, with resistance expected in the 20,940-21,000 range. The Bank Nifty is also forecasted to find support in the 46,500-46,650 range, encountering resistance between 46,925 and 47,000.

This momentous achievement marks the fifth session in December where the Nifty has reached a record high. Factors contributing to this surge include continued foreign investor inflows, robust macro data, declining crude oil prices, and supportive global market trends. As the market undergoes a period of consolidation around current levels, industry experts foresee the initiation of the next phase of the market rally.

Nifty50 – A Journey from 1,000 to 21,000 In a recent report by NSE, it was revealed that Nifty 50, which commenced its journey in November 1995 with a base value of 1,000, reached the remarkable milestone of 20,000 on September 11, 2023. This journey spanned over 27 years, 10 months, and 8 days, with the first 1,000-point rise taking Nifty 9 years, 1 month, and 10 days. The index touched the 2,000 level on December 14, 2004, marking a significant evolution in India’s financial landscape.