ZT News Network
Mumbai, May 9: Indian markets fell for the seventh straight day today: the Sensex was down over 200 points while Nifty fell below the 11,300 level. Market heavyweight RIL fell as much as 3% to ₹1261 on BSE today, its lowest in about two months.
Other Asian markets continued to be under pressure after President Donald Trump said that China “broke the deal” in trade talks with Washington and would face stiff tariffs if no agreement is reached. Donald Trump has threatened to raise tariffs from Friday to 25% from 10% on $200 billion worth of Chinese imports.
Beijing has threatened to retaliate if tariffs rise, without elaborating on the details.
Wall Street shares ended a choppy session flat to lower overnight, with the S&P 500 dropping 0.2%.
In commodity markets, Brent crude futures dropped to to $70.03 a barrel while copper fell to a near three-month low on Wednesday on concerns over a potential resumption of tit-for-tat trade tariffs between the United States and China.