Last Updated:
Benchmark equity indices BSE Sensex and Nifty50 opened lower on Friday, February 28, 2025, in response to mixed global cues.
Stock Market Crash On February 28
Benchmark equity indices BSE Sensex and Nifty50 opened lower on Friday, February 28, 2025, in response to mixed global cues.
At the opening bell, the BSE Sensex was down by 519.70 points, or 0.70%, at 74,092.73, while the Nifty50 stood at 22,374, lower by 171.05 points, or 0.76%.
Global Cues
Global markets were facing a sharp decline on news that US President Donald Trump confirmed tariffs against Canada and Mexico would take effect next week. On Thursday evening, Trump announced that tariffs on both countries would be imposed starting March 4, with China facing an additional 10% tariff on the same date. Trump also warned of a potential 25% tariff on imports from the European Union in the near future.
As a result, Asian markets saw significant losses, with Japan’s Nikkei dropping 2.7%, South Korea’s Kospi falling 2.2%, and Australia’s ASX200 declining 0.7%.
Overnight, US stock markets also closed lower, with the S&P 500 falling 1.59%, the Nasdaq Composite plunging 2.78%, and the Dow Jones Industrial Average slipping 0.45%. The Nasdaq’s weakness was further exacerbated by an over 8% drop in Nvidia’s shares.
