Dramatic Plunge at Pakistan Stock Exchange Amid Global Recession Fears

The Pakistan Stock Exchange experienced an unprecedented drop of over 8,600 points due to global recession fears triggered by U.S. tariffs. Trading was halted temporarily to curb panic selling, but further declines ensued. Chaos continued as financial analysts highlighted concerns over retaliatory global economic measures.

The Pakistan Stock Exchange (PSX) witnessed a historic drop, with the benchmark KSE-100 index tumbling by more than 8,000 points in a single session. The plunge was prompted by sweeping tariffs imposed by the United States, sparking fears of a global recession.

Trading was temporarily suspended for an hour to cool the market, but upon resumption, the index saw an additional decline, closing at a staggering 114,909.48 points, a fall of 3,882.18 or 3.27% from the previous close.

Financial experts point to concerns over a potential global economic slowdown due to retaliatory actions by other countries, further impacting the market's stability. Amidst the ongoing uncertainty, analysts are urging for vigilance as similar patterns emerge globally.

(With inputs from agencies.)