Pakistan Stock Exchange observed one of its biggest crash as the KSE 100 Index lost over 2000 points in a single day.
KSE 100 Index lost 2,106 points during the trading week’s first day. However, the index was closed at 38,220 points on the previous working day (Friday). However, the downfall is not occurred in just Pakistan but also in the global stock market.
It is noted that the crash was happened due to the fear of Coronavirus that is already slowing down the global economy. However, the price war between Russia and Saudi Arabia is also a big reason.
Stock markets in Manila, Sydney, and Tokyo fell by 6%. However, Hong Kong, Singapore, Jakarta, Mumbai, Wellington, and Seoul decreased by over 3%. In addition, Taipei and Shanghai fell by minimum 2%.