Mumbai, April 7 -- Global financial markets are bearing the brunt of President Donald Trump's announcement of sweeping reciprocal tariffs on all US trading partners, effective 9 April.

Stock markets worldwide have already begun reflecting the fallout from fears of a global economic slowdown.

Futures trading on Japan's Nikkei and Topix indices were briefly halted, while Indian equities fell sharply, with some investors likening the market turmoil to "Black Monday"-the largest single-day drop in Dow Jones history, when the index crashed 23% on 19 October 1987 amid persistent trade and budget deficits in the US. Echoes of that panic are surfacing again, underscoring the rising global uncertainty.

Back home, India's benchmark Nifty 50 inde...