Indian equity benchmarks Sensex and Nifty cratered on Friday, February 28, 2025, as fears of a global trade war sparked relentless selling. By 1:15 PM IST, the Sensex nosedived 1,375.17 points (1.84%) to 73,237.26, while the Nifty shed 404.10 points (1.79%) to 22,140.95—its lowest in nine months. Of BSE-listed stocks, just 416 advanced against 3,062 declines, with market capitalization hemorrhaging ₹6.1 lakh crore in a single day.

The rout, triggered by U.S. President Donald Trump’s tariff threats, follows a grim February—Nifty’s down 5%, poised for a fifth straight month of losses, its worst streak in 29 years. Thursday’s close had the Sensex at 74,612 and Nifty at 22,545, but optimism evaporated as global cues soured—Asian markets like Nikkei dipped too.

Foreign portfolio investors (FPIs) have yanked $25 billion from Indian equities over five months, spooked by U.S. tariff hikes on steel (25%) and aluminum (10%), announced recently. With India’s Q3 GDP data looming—Moody’s predicts a 2025 slowdown to 6.4% from 6.6%—uncertainty’s rife. Banking and IT stocks led the Nifty’s fall, with IndusInd Bank and Tech Mahindra among top losers, per live updates.

Analysts see no respite soon. “Trump’s trade stance and FII outflows are hammering sentiment,” one analyst noted, echoing fears of a broader economic hit. The rupee’s wobble near 87.96/USD doesnt help. As Sensex nears 73,000 and Nifty tests 22,100, investors brace for more pain—February’s shaping up as a brutal wake-up call for India’s markets.