Mumbai, June 3 -- Equity benchmarks ended deep in the red today, marking their third consecutive day of losses. The mood on Dalal Street turned sour as global trade tensions escalated following the U.S. decision to hike tariffs on steel and aluminium. The move spooked investors, especially given its implications for Indian exporters. Adding fuel to the fire, weak manufacturing data from both the U.S. and China pointed to cooling global demand.

The Nifty started the day on a strong note, opening at 24,786.30 and briefly climbing to 24,845.10. But the early optimism faded fast. Persistent selling dragged the index to a low of 24,502.15 before it closed below the 24,550 mark. Recovery attempts in the second half were shallow and short-lived...