Akhilesh Yadav Blames BJP for Market Crash, Warns of Threat to Common People’s Savings

Sensex Tanks Over 900 Points, Investors Lose ₹10 Lakh Crore Amid Global Trade Tensions​

Lucknow, April 5 — Samajwadi Party chief Akhilesh Yadav has raised strong concerns over the recent slump in the Indian stock market, blaming the central government for what he called a "double vicious circle" affecting the economy and ordinary citizens.

In a post on social media platform X (formerly Twitter), the former Uttar Pradesh Chief Minister stated that the sharp decline in the stock market is causing substantial financial losses to everyday investors, warning that this could sink both the market and the broader economy.

Market Mayhem: ₹10 Lakh Crore Wiped Out in a Day​

On Friday, the BSE Sensex plummeted by 930.67 points, or 1.22%, to close at 75,364.69, triggering a market-wide sell-off. The plunge was driven by weak global cues, sparked by U.S. President Donald Trump’s announcement of sweeping reciprocal tariffs, including a 27% tariff on Indian goods, as part of his administration’s push to reduce trade deficits and boost domestic manufacturing.

The sharp fall led to a massive erosion in investors’ wealth, with the market capitalisation of BSE-listed firms dropping by ₹9,98,379.46 crore, reducing the total to ₹4,03,34,886.46 crore (USD 4.73 trillion).

“Common People’s Capital at Risk”: Yadav​

Yadav, expressing concern over the financial impact on the middle class, said that millions of crores in savings and capital—used by ordinary people for purchasing goods, services, vehicles, or property—are vanishing due to market volatility.

“If the money of the common people is lost in the stock market, then both the market and the economy sink,” Yadav posted in Hindi.

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He also pointed out that young investors, who are increasingly turning to the stock market for financial growth, are falling prey to this volatility, putting the future of the capital market in jeopardy.

“When the youth suffer losses, they will shy away from shares and other investments, which sends a negative signal for the market’s future.”

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Warning of Long-Term Economic Impact​

Yadav drew attention to the broader socioeconomic implications, particularly for those already struggling since demonetisation and the economic slowdown.

“Unemployed and helpless people, facing hunger and joblessness, survive through market-linked activities. A market crash severely affects their livelihood.”

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He went on to state that while the top 1% may remain unaffected, the remaining 99% of citizens are either directly or indirectly facing ruin due to the market collapse.

Direct Attack on BJP​

In a sharp political attack, Yadav held the BJP-led central government responsible for the crisis, stating:

“The BJP government is not only directly responsible for this double vicious circle of the economy, it is also guilty. Investors today say, ‘We don't want BJP!’”

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With markets reeling and investor sentiment shaken, the issue has quickly turned into a political flashpoint ahead of key electoral moments, highlighting growing public and political unrest over economic management and global trade uncertainties.