India, April 3 -- Reflecting concerns about a global trade war following President Donald Trump's tariff announcement, stocks are likely to see an initial sell-off on Thursday. The major index futures are currently pointing to a sharply lower open for the markets, with the S&P 500 futures down by 3.7 percent.
The steep drop by the futures comes after Trump delivered a highly anticipated speech from the White House Rose Garden on Wednesday outlining his plan to impose sweeping tariffs on U.S. trade partners.
Trump's "reciprocal tariff" plan calls for a baseline 10 percent tariff to be imposed on all U.S. imports except those compliant with the United States-Mexico-Canada Agreement.
Certain countries deemed the "worst offenders" will face ...