Technical analysts suggest the Nifty is at a crucial juncture, with 21,700-21,900 acting as a key support. A break below this level could trigger a further decline to 21,200-21,300.
A top Chinese economist warned that Trump's 34% tariffs on Chinese exports could significantly impact China's GDP, potentially lowering it by 2-2.5 percentage points. This will add to existing economic challenges of the nation, including stagnating domestic consumption and a housing crisis.
The European Union will impose retaliatory duties on select US imports starting next week, responding to tariffs imposed by the Trump administration on steel and aluminum. While EU trade ministers prioritize negotiations to remove the tariffs, they are prepared to escalate countermeasures if necessary, it said.
