Mumbai, Feb. 10 -- The domestic equity benchmarks experienced a sharp decline on Monday, marking the fourth consecutive day of losses. The downturn was fueled by escalating global trade tensions following the announcement of new tariffs on all US steel and aluminum imports by US President Donald Trump.

The Nifty index closed below the 23,400 mark, with all sectors on the NSE registering losses. Realty and metal stocks were particularly hard hit. The looming threat of reciprocal tariffs and the broader implications for global trade have significantly dampened investor sentiment.

The market decline is also being attributed to rising domestic yields as investors exhibit increasing caution towards riskier assets. This shift has led to a fli...