KSE-100 sheds 1,250 points amid US-Iran escalation
Karachi: Pakistan’s stock market faced heavy selling pressure on Wednesday as fresh US-Iran strikes intensified regional tensions. The escalation pushed oil prices higher and raised concerns about possible supply disruptions. Investors reacted cautiously to the worsening situation across the Middle East. The benchmark KSE-100 index fell 1,250.34 points, or 0.71%, by 1:14pm. Selling remained…
Pakistan's stock market experienced heavy selling pressure on Wednesday due to escalating tensions between the US and Iran. The KSE-100 index fell 1,250.34 points, or 0.71%, by 1:14pm, according to the Daily Times. The increase in regional tensions led to higher oil prices and concerns about possible supply disruptions.
The US launched airstrikes on Iranian targets, prompting counterstrikes by Tehran targeting American interests in Bahrain, Kuwait, Jordan, and Iraq, as reported by The Guardian US. The Iranian Red Crescent stated that four people, including a child, were killed and over 50 injured in a US missile attack on a home with a wedding celebration in Kuhestak.
The US military denied targeting civilians, with spokesperson Capt Tim Hawkins saying, "The US military never targets civilians." The situation in the Middle East remains volatile, with investors reacting cautiously to the worsening situation.
Brief written by urgent.news from Daily Times, The Guardian US — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
