Stock Market Crash Live Updates, April 7: The world woke up to a financial bloodbath as on-the-edge markets saw a massive plunge that wiped out trillions of dollars amid an intensifying trade conflict between the US and China.

The Sensex crashed by nearly 3,000 points, and the Nifty fell below the crucial 22,000 level which wiped out lakhs of crores in investor wealth. Japan’s Nikkei tumbled 7 per cent, South Korea’s Kospi fell 5 per cent, and Hong Kong’s Hang Seng crashed over 10.5 per cent.

European stock markets plummeted, with Frankfurt slumping as much as 10 percent as a global sell-off intensified on US President Donald Trump’s tariffs.

Trump denied he was intentionally engineering a sell-off and insisted he could not foresee market reactions, saying he would not make a deal with other countries unless trade deficits were solved. “Sometimes you have to take medicine to fix something,” he said.

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European stock markets plummeted at the start of trading, with Frankfurt slumping as much as 10 per cent.

Indices were in freefall, with Paris diving more than six percent, London sliding nearly six percent, losses of more than five percent in Amsterdam and Oslo and Milan down over three percent. 

Sensex and Nifty cracked over 5 per cent, in tandem with massive sell-offs across the board, as US President Donald Trump’s tariff hikes and retaliation from China fuelled investors’ jitters amid fears that a full-blown trade war will impact economic growth across the globe.

The 30-share BSE benchmark Sensex crashed 3,939.68 points or 5.22 per cent to 71,425.01 in early trade. The NSE Nifty tumbled 1,160.8 points or 5.06 per cent to 21,743.65.

During the afternoon trade, the BSE benchmark quoted 3,205.31 points or 4.25 per cent lower at 72,159.38, and the Nifty traded with a cut of 1,038.95 points or 4.54 per cent at 21,865.50.