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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits. They don’t care how many people in Ukraine are being killed by the Russian War Machine. Because of this, I will be substantially raising the Tariff paid by India to the USA. Thank you for your attention to this matter!!! President DJT”
How Will Trump’s Statement Affect the Stock Market?
This latest post has the potential to affect the stock market. That’s because Donald Trump’s statement about raising tariffs on India due to its dealings with Russian oil could lead to increased market volatility, particularly affecting the iShares MSCI India ETF. Investors might anticipate potential trade tensions and economic repercussions, which could result in a sell-off of Indian stocks. This uncertainty may lead to a decrease in the value of the ETF as investors reassess their exposure to Indian markets.
Here are some of the stocks that might be affected:
iShares MSCI India ETF ((INDA)).