Investors' wealth erodes by ₹11.30 lakh crore since reciprocal tariffs announcement; Sensex drops 2%

Investors' wealth eroded by ₹11.30 lakh crore as stock markets tumble due to global trade war concerns.

Investors' wealth eroded by ₹11.30 lakh crore since early this month, where the BSE benchmark Sensex tumbled nearly 2%, as stock markets experienced turbulence in recent times initially due to U.S. President Donald Trump unveiling a massive tariff plan, followed by growing concerns of a tit-for-tat trade war between China and the US.

Since April 2, the BSE benchmark gauge has slumped 1,460.18 points or 1.90%.

Tracking uncertainty in equities, the market capitalisation of BSE-listed firms tumbled by ₹11,30,627.09 crore to ₹4,01,67,468.51 crore ($4.66 trillion) during this period.

Benchmark indices jumped nearly 2% on Friday as investors rejoiced at the 90-day suspension of additional import duties by the U.S..

Markets remained closed on two occasions, on April 10 for Shri Mahavir Jayanti and April 14 due to Dr Baba Saheb Ambedkar Jayanti.

Mr. Trump unveiled a massive tariff plan in the first week of April. The White House later announced a 90-day pause on "reciprocal tariffs" for most countries except China, which in turn decided to impose 125% tariffs on U.S. imports.

China on Friday upped its additional tariff on U.S. goods to 125%, retaliating the America's 145% levy.