Mumbai, March 4 -- The domestic equity indices traded with significant losses in early trade, as market sentiment was dampened by US President Donald Trump's decision to implement tariffs on Canada and Mexico starting today, along with Canada's retaliatory tariffs on US goods. The Nifty tanked below the 22,000 level. Barring the Nifty PSU Bank index, all the sectoral indices on the NSE were in red.

At 09:30 IST, the barometer index, the S&P BSE Sensex, tumbled 630.79 points or 0.49% to 72,734.60. The Nifty 50 index declined 122.95 points or 0.56% to 21,996.35.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 0.90% and the S&P BSE Small-Cap index shed 0.32%.

The market breadth was weak. On the BSE,...