Updated April 7th 2025, 22:33 IST
Trump Tariff War: On a day when global stock markets plunged into chaos, veteran investor Vijay Kedia took to X and YouTube, posting a video of himself singing a satirical yet spirited composition that took a jab at US President Donald Trump while ending with a powerful call for India’s rise as a developed nation.
The lyrics took aim at Trump’s tariff spree that triggered a domino effect from Wall Street to Asia while also delivering a message for India.
The video quickly went viral, drawing appreciation from netizens. One user commented, “At times when Twitter is full of negativity… a bull is roaring in his own style. Salute to your optimism, knowledge, humbleness, and most importantly—singing!”
Another wrote, "Viksit Bharat ka ab time aaya!”
Yet another praised the emotional connect, “So nice, sir. Just amazing. Touched my heart.”
The song came as stock markets across the globe plunged. Bears dominated Dalal Street on Monday, April 7, triggering one of the most severe selloffs in recent memory. The BSE Sensex plunged 3,379.19 points or 4.48%, closing at 71,985.50, while the NSE Nifty nosedived 1,146.05 points or 5% to end the session at 21,758.40.
The market crash resulted in a staggering erosion of investor wealth, with the total market capitalisation of all BSE-listed companies dropping by Rs 19.4 lakh crore, now valued at Rs 383.95 lakh crore.
No sector was spared. The Nifty Metal index plunged 8%, Nifty IT declined 7%, and sectors such as Auto, Realty, and Oil & Gas lost over 5%. Broader markets were hit even harder mid-cap indices dropped 7.3%, and small-caps sank a brutal 10%.
Dow Jones futures fell 979 points (2.5%)
S&P 500 futures slid 2.9%
Nasdaq-100 futures crashed 3.9%
Friday had already seen the Dow lose 2,231 points, marking the first back-to-back 1,500+ point losses in history. The S&P 500 had its worst day since March 2020, while the Nasdaq Composite entered a bear market, down 22% from its peak.
Published April 7th 2025, 18:32 IST