Donald Trump tweets hit D-Street, oil saves the day; Sensex falls 363 pts

The fall in the domestic market was subdued compared to carnage seen in global equities

Global markets — which went through a turbulence-free phase over the past few weeks on hopes that the US and China had largely sealed a trade accord — were jolted by US  President Donald Trump’s tweets on Sunday, where he said the US would raise tariffs on $200 billion of Chinese goods from 10 per cent to 25 per cent this week. The hardline taken by Trump spooked global markets as investors turned risk averse.

Declining for a fourth straight day, the benchmark Sensex fell 363 points, or 0.93 per cent, on Monday to end at 38,600, while the Nifty 50