Pakistan Stock Exchange crashes, over 2,200 points lost as global markets slump.

KARACHI -- The stock market crashed in the early trading hours on Monday as confusion and uncertainty surrounded potential investors due to the decline in international oil prices by about 30 percent, the worst crash since the Gulf War in the 90s.

The Pakistan Stock Exchange's (PSX) benchmark KSE 100-Share Index tumbled 2,291.69 points or 6pc, and reached 35,927.98 as of 10.34am. Moreover, trade activity was suspended around 9:45am after a rapid 5.83 per cent decline in share prices was witnessed and resumed around 10.30am. Oil prices fell by as much as a third following Saudi Arabia's move to start a price war after Russia balked at making the further steep output cuts proposed by OPEC to stabilise oil markets hit by worries over the global spread of the coronavirus. Among other persisting factors, include the rout in global equities, the suspension of imports from China and the adverse affects on the Asian economy and sharper than expected downturn in world economies as the novel coronavirus outbreak continues to invade countries. Investors last week continued to dump stocks and plough their money in safe haven assets, mainly gold. According to experts, the stock market has been searching for a proper direction for healthy growth but several...