Mumbai: As the US decided to raise further tariffs on Chinese goods, global markets took a beating on Friday.
The Sensex and Nifty along with other global markets traded with heavy losses after US President Donald Trump said: “The US will start, on September 1st, putting a small additional tariff of 10 percent on the remaining 300 billion dollars of goods and products coming from China into our country.”
At 10.04 a.m., the Sensex was trading 356.43 points lower at 36,661.89. It opened at 36,920.11 lower from its previous close of 37,018.32.
The broader Nifty traded 111.25 points lower at 10,868.75.
The Indian markets are going through one of the worst patches ever. A mix of negative news since the budget has eroded massive wealth.
On Thursday, the hawkish comments from the US Federal Reserve had pushed the Nifty below the 11,000 marks.
Besides, the autos sales data and macro-economic data released earlier, has failed to cheer investors.