After Donald Trump-led US administration unveiled tariff designs to punish China for intellectual property theft imposing nearly $50 billion in taxes on Chinese imports, Dow Jones fell 700-points on Thursday. Sensex opened at 32,608.42, nearly 400 points down. Sensex opened at the lowest level since December 18, 2017. The benchmark BSE Sensex declined 130 points or 0.04 percent lower at 33,284 yesterday due to profit booking in realty, capital goods, tech, auto and banking stocks as a result. There is a fear among investors that the latest measures by US could result into a trade war with adverse consequences for the global economy. Already China has planned to impose retaliatory tariffs on the US imports to the tune of $3 billion after US tariff hike on its steel and aluminium imports. Indians markets opened at a 4-month low amid trade fears on Friday. Nifty breached 10,000 for the first time since October 12, 2017. Majority of index stocks are in the red in the 1st hour of trade today. Impact on Indian markets Markets are reacting to expected Trump's Trade War and I believe panic bottom is now coming closer, and it\u2019s best to stick to companies with growth visibility, veteran investor Sandip Sabharwal told ET Now. All Sensex and Nifty 50 stocks are trading with a negative bias in the morning trade. "US seems to have taken targeted approach with respect to the Indian subsidies, Previous experiences indicate impact of global trade war in not severe," Chetan Ahya of Morgan Stanley told CNBC TV18. Crude oil prices A hike in crude oil prices may impact the market sentiment going ahead and imply increase in costs of imports for India along with increased fuel expenses. The crude oil prices surged 1 percent todayafter Saudi Arabia\u2019s plans for OPEC and Russian-led production curbs introduced in 2017 to be extended next year. Fed impact Already investors are under fear after the US central bank on Wednesday hiked interest rates by 25 points and forecasted two more hikes for this year. India has a substantial trade surplus with the US and there is a system in place that is not particularly open, PTI reported citing US Trade Representative (USTR), Robert Lighthizer. India may be in a position to retaliate, he added.