Asian stocks fell
broadly after Trump’s tariff announcement unsettled global trade outlook.
At the same time, expectations of aggressive U.S. rate cuts were pared back by stronger eco
nomic data.
Investors across emerging markets responded with caution and profit-taking.
The combination of trade shock and shifting rate outlook acts as a double headwind.
Indian markets, being export and global-trade sensitive, feel more of this stress.
Currency, inflows, and equities all face downside risks in such an environment.
Policy clarity, especially U.S. monetary moves, may dictate next directional leg.
Markets may see choppy intraday swings until new drivers emerge.
Broader portfolios may reduce sector concentration and increase
defensives.
Overall, the global reset is testing risk appetite across asset classes.