Global Selloff Spills Into India — Nifty Sheds 1.2% on Tariff Fears
Trump's new tariff threat on semiconductors triggered a global tech rout. India's IT and auto sectors bore the brunt. Nifty fell below 23,600 support.
Market Snapshot — Close
Market Overview
Indian markets couldn't escape the global selloff triggered by new US tariff threats on semiconductor imports. Nifty fell 1.2% to 23,577, breaching the 23,600 support level that had held for two weeks. IT sector was the biggest drag, losing 2.4% collectively.
Global Context
The trigger was a late-night Truth Social post from President Trump threatening 25% tariffs on semiconductor imports from Taiwan and South Korea. TSMC ADRs fell 4.2% in overnight trading; Nasdaq futures opened 1.8% lower in Asia.
The Angle
India's IT exposure to US tech spending is real — TCS and Infosys derive 60%+ revenue from North America. But this is a tariff threat on hardware manufacturing, not software services. The market is pricing in contagion risk, not direct impact. Watch how US markets digest this over the next 2 sessions — that's the real signal for India IT direction.