New Delhi: As stock markets across the globe nosedived due to growing US-China trade tensions, Congress leader Rahul Gandhi criticised Prime Minister Narendra Modi, accusing him of staying silent in the face of economic distress.
“Trump has blown the lid off the illusion. Reality is biting back. PM Modi is nowhere to be seen,” Gandhi posted on X, referring to the economic fallout following US President Donald Trump’s new tariff hikes and China’s retaliatory measures.
Indian stock markets took a massive hit on Monday. The BSE Sensex plunged 2,226.79 points or 2.95 per cent to close at 73,137.90 – marking its biggest single-day fall in 10 months. At one point during the day, it had fallen over 3,900 points. The Nifty too sank 742.85 points or 3.24 per cent to end at 22,161.60.
Only Hindustan Unilever managed to stay afloat among Sensex stocks, while Tata Steel and Larsen & Toubro were among the worst hit, falling by 7.33 per cent and 5.78 per cent respectively.
The ripple effects were felt globally. Hong Kong’s Hang Seng index plunged over 13 per cent, while Japan’s Nikkei dropped nearly 8 per cent. Other Asian markets including Shanghai and Seoul also suffered heavy losses. European markets saw a decline of up to 6 per cent, and Wall Street closed sharply lower on Friday with the S&P 500 falling nearly 6 per cent.
Gandhi, now the Leader of Opposition in the Lok Sabha, said India must face the reality and take steps toward long-term recovery.
“India has to accept reality,” he said. “We have no choice but to build a resilient, production-based economy that works for all Indians.”
The Congress party has been persistently criticising the Modi government over economic issues like inflation, stagnant wages, and falling private investments. Earlier this month, it highlighted a decade-long stagnation in real income and deepening inequality, questioning what it would take for the Prime Minister to act.
(With PTI inputs)
Stay informed on all the , real-time updates, and follow all the important headlines in and on Zee News.
