According to the source, India’s stock market recorded its biggest drop in over four months as U.S. tariff concerns resurfaced (source: the source post dated Jan 8, 2026). The source attributes the decline to renewed tariff risk and does not provide specific index names or percentage figures (source: the source post). For trading desks, this equity drawdown is a headline risk to monitor during Asia hours for potential short-term liquidity shifts that can affect BTC and ETH flows on INR-linked venues (source: the source post identifying the equity drawdown event).