Mumbai, April 4 -- The Nasdaq plummeted 1,050.44 points(6%) to 16,550.61, the S&P 500 plunged 274.45 points(4.8%) to 5,396.52 and the Dow tumbled 1,696.39 points (4%) to 40,545.93.

Wall Street plunged after Trump unveiled a reciprocal tariff plan, proposing a 10% baseline tariff on all U.S. imports, excluding those under the USMCA. Countries like Cambodia, Laos, Madagascar, and Vietnam will face tariffs nearing 50% while China's total rate will hit 54% with existing duties. Canada and the EU are preparing countermeasures. Fears of a global trade war are rising, with potential inflation and economic disruption.

Institute for Supply Management released a report showing U.S. service sector growth slowed by more than anticipated in the mont...