The Pakistan Stock Exchange (PSX) faced a steep decline on Monday, with the benchmark KSE-100 Index plunging over 3,000 points during early trading hours.
The index sank to an intraday low of 115,488.18, representing a sharp fall of 3,303.48 points, or 2.78%. Earlier in the session, it had briefly reached 117,601.62, still 1,190.04 points, or 1.00%, below Friday’s closing level of 118,791.66.
Major stock indexes plunged in Asia as White House officials showed no sign of backing away from their sweeping tariff plans.
Japan’s Nikkei sank 6% to hit lows last seen in late 2023, while South Korea dropped 5%. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 3.6%.
Chinese blue chips lost 4.4%, as markets waited to see if Beijing would respond with more stimulus. Taiwan’s main index, which had been shut on Thursday and Friday, tumbled nearly 10%, leading policymakers to curb short selling.
In Saudi Arabia, where the markets were open Sunday, the bourse was down 6.78% — the worst daily loss since the COVID-19 pandemic, according to state media.
This is a developing story and is being updated with more details.
