Pakistan Stock Exchange plunged by nearly 8700 points on Monday following the US President’s tariffs on over 180 countries, triggering a temporary halt in the PSX market.
As the markets opened on Monday morning, selling pressure was felt throughout trading session as investors leaned towards selling.
Feeling the effects of US President Donald Trump’s tariffs and China’s subsequent tariffs triggered the black Monday across the international stock markets as well.
Trading at PSX was stopped by a trigger from 11:58am to 12:58pm after the market fell by 3,882.18 points, to stand at 114,909.48 from the previous close of 118,791.66.
Following the 6000 points drop, the automatic circuit breakers came into action in order to provide some cushion to all investors during extreme market uncertainty.
The KSE-100 Index fell to an intra-day low of 110,103.97 by 1:10pm. However, PSX saw some recovery by jumping to 114,909.48 points.
Additionally, the decline in global crude oil rates also led to declining stocks in oil and gas stocks. As major PSX stocks traded in the red margin today.
Trump on Monday remained defiant, asserting that investors would have to take “the medicine” following the steep decline in US stock market.
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