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Japan s Nikkei plunged 3.1% to 32,010.93, mirroring Wall Street s downturn amid growth concerns and fading hopes for U.S. tariff relief. The broader Topix also declined by 3%. Technology stocks spearheaded the sell-off, with Advantest and Tokyo Electron experiencing significant drops, alongside a notable fall in SoftBank Group shares.

The S&P 500 plummeted below 5,000 for the first time in nearly a year, triggered by investor anxieties over President Trump s impending tariffs. A strong morning rally faded as hopes for tariff delays diminished. The benchmark index has suffered a significant market value loss since the tariff announcement.

The dollar weakened against the yen and Swiss franc amid U.S. tariff threats on China, triggering global market jitters. Concerns over a potential U.S. recession intensified as the yuan hit record lows, prompting speculation about Federal Reserve rate cuts. Investors sought safe-haven assets, boosting the yen and Swiss franc.

Gold prices experienced a slight dip as U.S. Treasury yields rose, while investors remained cautious amid escalating U.S.-China trade tensions and growing recession fears. The U.S. is set to impose steep tariffs on China, prompting retaliatory measures. Markets are also awaiting key U.S. inflation data and the Federal Reserve s meeting minutes for insights into future rate decisions.

Oil prices plummeted to over four-year lows due to escalating U.S.-China trade tensions and rising supply. Brent crude fell to $60.69 a barrel, and WTI dropped to $57.22, hitting their lowest levels since early 2021.

Reserve Bank of India is likely to reduce rates again. This is due to growth risks after United States import tariffs. Investors are watching the commentary closely. They want clues about future policy. Donald Trump imposed tariffs on India. This threatens India s GDP growth. Analysts expect more rate cuts this year. Inflation trends look positive.

Finance Minister Katsunobu Kato stated Japan will not use its U.S. Treasury bonds as leverage against American tariffs. This was in response to a suggestion to sell the bonds as retaliation. Kato clarified that these holdings are for potential currency intervention. Selling them would be like buying yen, a move Japan is wary of.

Following Tuesday s market rebound, analysts are offering insights on key stocks. Vedanta shows strength above Rs 370, with potential upside beyond Rs 390. HCL Tech maintains a strong uptrend, favoring a buy-on-dips strategy. Conversely, Delhivery remains bearish, with analysts advising caution until it surpasses Rs 268.

Cyient has launched Cyient Semiconductors, a wholly-owned subsidiary, marking its entry into the semiconductor space. Leveraging 25 years of experience, the new unit will provide ASIC turnkey solutions for global clients across various sectors. The company aims to support India s self-reliance in the semiconductor sector, aligning with the national agenda.

We have collated a list of recommendations from top brokerage firms from ETNow and other sources.