Pakistan Stock Market Plummets Amid Escalating Middle East Tensions

The Pakistan stock market experienced a significant downturn on Monday following military actions by the U.S. and Israel against Iran, which heightened geopolitical tensions in the Middle East. According to Jin10, the KSE-30 index plunged by 9.6% in early trading, prompting a one-hour suspension of trading activities. The Pakistan Stock Exchange announced that trading would resume at 10:27 AM local time. In addition to the market turmoil, domestic unrest was evident as pro-Iranian protesters clashed with police in Karachi, Pakistan's major port city. At least ten individuals were reported dead during an attempt to breach the gates of the U.S. consulate. Simultaneously, tensions with Afghanistan escalated, leading Pakistan to declare a state of 'open war' with its neighbor. Cross-border strikes were reported, extending as far as the Afghan capital, resulting in hundreds of casualties.