Sensex, Nifty extend losses over US-China trade tensions, IT stocks fall

Benchmark indices BSE Sensex and NSE’s Nifty 50 declined for the second day on Tuesday following losses in global equities. Asian stocks skidded to a four-month low as US President Donald Trump threatened new tariffs on Chinese goods in an escalating tit-for-tat trade war between the world’s two biggest economies that has rattled financial markets, reported Reuters. Oil prices fell on expectations that producer cartel OPEC and key ally Russia will gradually increase output. The rupee was trading little changed against the US dollar.
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