KARACHI: Pakistan Stock Exchange faces the worst setback of the last manyyears.
The Pakistan Stock Exchange (PSX) dropped 2,265 points or 5.6pc to itsthree-year low during the outgoing week (Feb 28).
The KSE-100 Index had closed the last trading session of the week (Friday)at 37,983 points.
On February 27, the PSX saw its biggest intraday fall in a year afterPakistan confirmed its first cases of coronavirus the day before.
The benchmark KSE-100 index, a gauge to measure the overall marketperformance, had plunged 1,400 points or 3.5pc within the first two tradinghours. It was the biggest single-day fall since February 27, 2019 (exactlyone year ago) when the Pakistan Air Force had downed an Indian fighter jetand captured its pilot.
Read Top Stories
Pakistan confirmed its first two cases of coronavirus on Wednesday evening,which caused panic among investors who were already concerned over reportsof the deadly virus spreading to other countries.
Investors across the globe had also resorted to selling, following reportsthe of a rise in the number of coronavirus cases, and turned to safe havenssuch as gold.
