Market Mayhem: Sensex Sinks 1,009 Points, Nifty Hits 9-Month Low Amid Trade War Fears

At 10:03 AM, the Sensex tumbled 1,009.64 points (1.35%) to 73,602.79, while the Nifty fell 316.25 points (1.4%) to 22,228.80. Market breadth remained weak, with 517 stocks advancing, 2,661 declining, and 107 unchanged.

The market capitalization of BSE-listed firms eroded by ₹6.1 lakh crore on February 28 as the Nifty hit a 9-month low. The Nifty 50 has declined nearly 5% in February and is on track for its fifth consecutive month of losses—the longest losing streak in 29 years.

Key Factors Behind the Market Decline

1️⃣ Trade War Fears: On February 27, US President Donald Trump announced that 25% tariffs on imports from Canada and Mexico would take effect on March 4 instead of April 2, as previously suggested. Additionally, Chinese goods will be subject to an extra 10% duty, escalating concerns over a prolonged trade conflict.