<h1>Reciprocal tariffs announced by the US depress markets, weakening export sensitive stocks and investor sentiment.</h1> The US announcement of a reciprocal tariffs regime, applying increased duties to numerous countries including India, triggered immediate weakness in Indian equity markets. Major indices opened lower with IT and export sensitive stocks among the primary laggards, midcap and smallcap gauges declined, and market commentary linked the selloff to repricing of export exposure and heightened trade policy uncertainty.