KARACHI: The Pakistan Stock Exchange (PSX) has declined sharply, with the benchmark KSE-100 Index shedding more than 1900 points.
As per reports, the sudden reason for the points being declined is due to the reason for the emerging number of coronavirus patients as a number of the cases had suddenly jumped to 94 on Monday morning after more people were diagnosed with the disease across the country.
As per details, 76 patients were from Sindh, ten from Balochistan, four from Islamabad, three from Gilgit-Baltistan and one person in Lahore.
Read more: PSX recovers after volatile session to end in the green
The KSE-100 fell to 34,409 points, shedding 1,651 points in the opening hour of trade. The fresh bloodbath at the bourse reversed the market’s recovery from Friday’s crash.
Last week, the trade was suspended on three occasions (Monday, Thursday and Friday) with the benchmark KSE-100 index trading down 20% from its highest level this year with $10 billion shaved off the market’s value.
The US stock market suffered its worst crash since 1987 as Americans realised the coronavirus will impose new limits on their daily lives, the Washington Post said in a report.
Equity markets across the world continue to bleed over fears of the economic implications of the COVID-19, which the World Health Organization declared as a global pandemic last week.
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