Sensex, Nifty Decline On Tariff Worries

(RTTNews) - Indian shares were notably lower in early trade on Monday after U.S. President Donald Trump signed three separate executive orders, imposing 25 percent on goods from Mexico and Canada, and 10 percent on all imports from China, instigating a trade war that's set to reshape global supply chains.

Both leaders in Canada and Mexico have announced they will put their own tariffs against the U.S., targeting certain industries.

The Chinese government also vowed to take unspecified "corresponding countermeasures" against the U.S.

The benchmark S&P/BSE Sensex was down 485 points, or 0.6 percent, at 77,020 while the broader NSE Nifty index fell 170 points, or 0.7 percent, to 23,311.

Among the prominent decliners, Coal India, Hindalco, Larsen & Toubro, BPCL and BEL slumped 4-5 percent.