Trade war fears between US and India rattle stocks in Indian markets

Indian markets see steepest decline in two weeks over worries of retaliation after President Trump decided to impose hefty tariffs on steel and aluminium imports. The brokerage estimated that steel exports to US from other countries will decline by 9-14 million tonnes due to the imposition of higher import duties. Analysts expect the market volatility in India to continue ahead of the general elections in 2019. Morgan Stanley has already reduced its India weightage because of high valuations and weak earnings growth.

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Source: Mint,