Stock market today, April 1 -- Indian markets kicked off FY26 on a somber note, tracking the sharp sell-off in U.S. markets overnight after U.S. President Donald Trump on Sunday, said tariffs would essentially cover all countries, stoking worries a global trade war could lead to a recession.

Investors had been hoping for a more targeted approach in implementing the levies. Trump is set to receive tariff recommendations on Tuesday and is expected to announce the initial levels on Wednesday.

These levies are coming at a time when U.S. consumer and business confidence are weakening, as concerns grow that higher duties will drive up domestic prices and potentially slow down economic activity. The recent inflation data has reinforced these c...