PSX plunges 3,855 points on geopolitical jitters
The Pakistan Stock Exchange (PSX) endured a sharp sell-off on Monday, as escalating geopolitical tensions in the Middle East—sparked by reported US airstrikes on Iranian nuclear facilities and Tehran’s threat to close the Strait of Hormuz—sent shockwaves through global markets, triggering panic selling and wiping out more than 3,800 points from the benchmark KSE-100 index. According to Topline Securities Ltd, the index plunged by as much as 4,135 points during intraday trade before recovering slightly to close at 116,167 — a net loss of 3,855 points or 3.21pc. The index now sits below the key 120,000 threshold, a level considered critical by technical analysts. Investor sentiment was severely dented by rising fears of a broader regional conflict after the United States reportedly struck multiple Iranian nuclear sites over the weekend. Tehran’s subsequent warning of a potential closure of the Strait of Hormuz—a vital global oil transit chokepoint—further stoked risk aversion across global financial markets.