Share markets in India are presently trading marginally lower. Sectoral indices are trading on a mixed note with stocks in the banking sector and healthcare sector witnessing maximum selling pressure.

The BSE Sensex is trading down by 121 points (down 0.3%), while the NSE Nifty is trading down by 33 points (down 0.3%). The BSE Mid Cap index is trading down by 0.5%, while the BSE Small Cap index is trading down by 0.4%.

The rupee is trading at 70.16 to the US$.

In the news from global financial markets, the US and China imposed fresh tariffs on each other’s goods in the middle of trade talks.

Both the countries on Thursday imposed tariffs on imports worth some US$ 16 billion. This took the total value of goods hit as a result of a trade war with China to US$ 100 billion.

With the above development, the US will collect an additional 25% in duties on Chinese imports ranging from motorcycles to steam turbines and railway cars.

Chinese retaliation, on the other hand, will see a similarly sized tax on items including coal, medical instruments, waste products, cars and buses.

Policymakers across the world are warning of the above trade war that could undermine the broadest global recovery in years. Meanwhile, business groups representing companies ranging from Walmart Inc. to Amazon.com Inc. are warning US tariffs could raise prices for consumers and sideswipe stock prices.

How exactly this trade war will unfold is something to watch out for. We’ll keep you updated on all the developments from this space.

In the news from currency markets, the Indian rupee is witnessing selling pressure today.

The currency weakened by 13 paise to 70.24 against the US dollar in opening trade session today. Losses were seen as the US-China trade talks ended with little progress.

Yesterday too, the domestic currency lost 30 paise to end at 70.11 due to renewed worries about a hike in US interest rates.