KARACHI – Pakistan Stock Exchange (PSX) recorded a massive decline on Thursday as investors reacted to US President Donald Trump’s warning of intensifying attacks on Iran to complete military objectives.
Till 10:00 am, the KSE-100 index shed 3,642.09 points to drop to 151,869.47 points, marking a change of 2.34 percent.
A day earlier, the stock market witnessed a strong bullish trend, moving up by 6,768.25 points, a positive change of 4.55 percent, to close at 155,511.57 points.
The bearish trend in today’s trading comes after the Trump’s primetime address to the nation where he indicated that the US-led military campaign in Iran, conducted alongside Israeli forces, could reach its conclusion within the coming weeks, while warning that operations would intensify in next two or three weeks before any resolution.
Trump described the conflict as a decisive victory, asserting that the U.S. was “very close” to completing its objectives in Iran. “We are going to hit them extremely hard over the next two to three weeks,” he said, adding that Tehran would be pushed back to what he termed the “Stone Ages.”
The president highlighted significant damage inflicted on Iran’s military infrastructure, claiming that missile and drone capabilities had been “dramatically curtailed” and that weapons factories were being destroyed. He emphasized the scale of losses, saying such rapid degradation was unprecedented in modern warfare.
