KSE-100 crashes over 12,000 points during early trading

Pakistan’s benchmark index, KSE-100, crashed over 15,000 points shortly after market open on Monday, following which trading was suspended.

When trading resumed around 10.30am, the index was down 12,334.88 points from its previous close of 168,062.16 points, marking a fall of 7.34 per cent.

The sharp plunge comes a reigonal geopolitical tensions spiked over the weekend as United States and Israel on Saturday launched what they described as a “pre-emptive” joint strike against Iranian targets, with President Trump announcing the start of “major combat operations”.

The tensions have caused Brent crude to jump 10 per cent to about $80 a barrel over the counter on Sunday, oil traders said, while analysts predicted that prices could climb as high as $100.