The Pakistan Stock Exchange (PSX) opened lower on the fourth day of the week as investors reacted to US President Donald Trump’s warning of continued military action against Iran.
The KSE-100 index has plunged 4,197.45 points to 151,314.11, reflecting a 2.7 percent decline from the previous close of 155,511. During intraday trading, it also recorded a dip of over 5,000 points to hit as low as 150,022 points.
Meanwhile, global markets also recoiled as war jitters over Iran deepened, with stocks sliding, oil surging and the dollar firming after US President Donald Trump dashed hopes for clarity on when the Middle East conflict might end. Trump said in a prime-time address that the U.S. would hit Iran “extremely hard” within weeks, claiming military goals were nearly achieved and the conflict was close to ending.