Tuesday's relatively muted action in markets follows losses on Monday when Trump posted a flurry of letters to social media that announced new tariff rates ranging from 25% to 40% on more than a dozen countries starting August 1.

Good morning!The GIFT Nifty is trading 15 points lower at 25,589 as of 8:30 a.m., indicating a muted start for the benchmark on the NSE later in the morning.Asian equity indices were trading mixed, while US and European futures diverged.