PSX Plunges Over 4,000 Points as Global Market Turmoil Hits Pakistan Stocks
The PSX's performance was heavily influenced by global economic uncertainty
Pakistan Stock Exchange (PSX) on Monday experienced a significant downturn as the KSE-100 Index plummeted by more than 4,000 points, reflecting the broader global market turmoil.
This decline was triggered by a combination of factors, including U.S. President Donald Trump’s announcement of sweeping tariffs on international trade and China’s retaliatory measures against the U.S., which heightened fears of a global recession.
The KSE-100 Index initially dropped by over 6,287 points, or about 5.29%, prompting a trading halt due to a 5% decline in the KSE-30 Index. However, reports varied, with some indicating a drop of around 4,257 points or 3.58% at certain points during the day.
Trading was suspended for approximately 45 minutes to an hour, depending on the source, after the KSE-30 Index fell by more than 5%.
Major sectors such as cement, commercial banks, oil and gas exploration, and power generation faced significant declines, contributing to the overall downturn.
The decline mirrored a global sell-off, with other Asian markets like Japan, Hong Kong, China, Korea, and India also experiencing substantial losses due to trade tensions and recession fears.
Despite the significant intraday losses, the market showed some recovery towards the end of the trading session, though it still closed down by over 3,800 points or about 3.3%.
The PSX’s performance was heavily influenced by global economic uncertainty and the impact of U.S. tariffs on international trade, which have been a major concern for investors worldwide.
