Why is the Stock Market Down Today?

The stock market is down today, February 24, 2026, primarily due to renewed global trade uncertainty stemming from new tariff threats and persistent fears of AI-led disruption in the technology sector. 

Source : Freepik

Impact of Trump’s 15% Global Tariffs on Markets

Global markets were rattled after US President Donald Trump raised his planned global import levy to 15%, up from the previously announced 10%. This follows a US Supreme Court ruling that struck down his earlier “reciprocal” tariffs.

Why IT Stocks Like Infosys and TCS Are Bleeding

AI Disruption in IT :

Indian and US technology stocks fell sharply following news from AI firm Anthropic. Its new “Claude Code” tool’s ability to modernise legacy COBOL systems triggered fears that traditional IT services could be automated.

Sectoral Impact :

• Nifty IT Index: Plunged over 5%, with companies like Tech Mahindra, HCL Tech, and Infosys among the top losers.
• Textile Stocks: Dropped up to 6% after the Indian government halved RoDTEP duty benefits.
• Bharti Airtel: Fell nearly 4% following a regulatory filing regarding a ₹20,000 crore investment in its NBFC arm.

Weak Global Cues :

Wall Street ended the previous session significantly lower, with the Dow Jones dropping 1.66% and the Nasdaq falling 1.13%.

Domestic Pressures :

The Indian Rupee hit a low of 90.96 against the US dollar, pressured by rising crude oil prices (Brent crude up 1% to ~$72) and a stronger dollar index.

Would you like to see a detailed breakdown of the top gaining and losing stocks in your specific region?