Why are stock markets falling today, are Trump's tariffs to blame?

US President Donald Trump's 25 per cent tariffs on goods from Mexico, Canada, and China, which take effect from Tuesday, March 4, 2025, has sent global financial markets falling. The Indian stock market in particular, tumbled upon opening on Tuesday, with the benchmark BSE Sensex dropping by 341.82 points or 0.47 per cent, reaching 72,744.12 and the broader NSE Nifty opening 132.80 points down or 0.6 per cent in the red, reaching 21,986.50. The Dow Jones Industrial Average fell by 649.67 points, or 1.48 per cent, the S&P 500 lost 104.78 points, or 1.76 per cent, and the Nasdaq Composite dropped by 497.09 points, or 2.64 per cent. Meanwhile, Canada responded with Prime Minister Justin Trudeau stating on Monday that there would be a 25 per cent retaliatory tariffs on C$155 billion worth of US goods, which will come into effect at the same time.