Trump's Tariffs Trigger Turmoil in Metal Markets

Metal stocks fell sharply, plummeting over 8%, after President Trump's announcement of sweeping reciprocal tariffs. These tariffs have sparked fears of a global trade war, significantly impacting stock prices of major companies like Tata Steel and National Aluminium.

On Friday, metal stocks took a significant hit as President Donald Trump's sweeping reciprocal tariffs revived fears of a global trade war. This led to a pronounced slump in the share values of key metal companies.

National Aluminium Company's stock plunged 8.66% to Rs 157.70, while Vedanta and Tata Steel also saw declines of 8.63% and 8.59%, respectively. Other companies like Hindalco Industries and Jindal Steel & Power recorded notable dips as well.

The BSE Metal index fell by 1,925.11 points, depicting a broad market impact, attributed to the unexpected higher tariffs introduced by the Trump administration. These tariffs, set at a minimum of 10%, have stoked concerns over inflation and global economic growth.

(With inputs from agencies.)