Benchmark indices Sensex and Nifty witnessed a sharp fall of 3 percent each on the morning of April 7 — a drop of this magnitude was last seen on June 7, 2024 — as a wave of risk-off sentiment swept across global markets. Investor anxiety intensified following China’s decision to impose retaliatory tariffs on the United States, reigniting fears of a renewed global trade war. Amid the widespread selloff, all Nifty 50 constituents slipped into the red.