Mumbai, April 3 -- The domestic equity indices traded with moderate losses in early trade. The downturn comes after US President Donald Trump announced wide-ranging tariffs on imports from partner and adversary nations alike, spurring fears of a recession in the US and trade wars worldwide. The Nifty traded below the 23,300 level.

Barring the Nifty Pharma index, all the other sectoral indices on the NSE were traded in red.

At 09:30 IST, the barometer index, the S&P BSE Sensex, slumped 338.02 points or 0.45% to 76,275.82. The Nifty 50 index shed 75.05 points or 0.32% to 23,257.60.

In the broader market, the S&P BSE Mid-Cap index rose 0.39% and the S&P BSE Small-Cap index added 0.75%.

The market breadth was positive. On the BSE, 1,307 s...