Selling pressure persisted at the Pakistan Stock Exchange (PSX), with its benchmark KSE-100 Index losing over 700 points during intra-day trading on Tuesday.
At 11:30am, the KSE-100 was hovering at 113,351.90, down by 712 points against the previous day close.
On Monday, the benchmark index had closed the day lower by 1,405.45 points.
A rise in tensions between Pakistan and India following Pahalgam attack has kept the stock market under pressure since last week.
Globally, stocks ticked sideways on Tuesday while the dollar headed towards its largest monthly fall for years as investors braced for the trade war to be felt in earnings and economic data.
US President Donald Trump’s tariffs have rattled faith in US assets and even though numerous back downs have helped the S&P 500 recover much of its early April losses, the dollar has managed only to steady, without a big rebound.
It slipped overnight when US Treasury Secretary Scott Bessent told CNBC it was “up to China to de-escalate” tariffs, which sit at 125% for most US exports to China.
A holiday in Japan thinned currency trade in the Asia session, leaving most pairs steady. But at $1.1409 and up 5% in April, the euro is set for its largest monthly rise on the dollar in almost 15 years, while the dollar’s 7% drop on the safe-haven Swiss franc is the largest in a decade.
Nikkei and S&P 500 futures drifted higher, helped by officials foreshadowing a softening in automotive tariffs, though investors were holding out for more meaningful relief on the eye-watering 145% US tariffs on China.
This is intra-day update
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