The Pakistan Stock Exchange opened to a selling spree, with the 100 index losing over 6,000 points in a few hours.

By noon, the market had lost 6,249.10 points to fall to 112,542.56 points. The points lost amounted to 5.2% of the market’s volume.

The massive dip caused trading to be suspended for an hour from 11:58 am to 12:58 pm.

According to Arif Habib Limited, this is the single largest decline in the PSX in a single day.

The downturn in the PSX comes after US President Donald Trump announced massive reciprocal tariffs across the world, including a 29% tariff on goods from Pakistan.

Even as stock markets across the world have seen massive losses, including in Asia, the Trump administration seems to stand firm on its decision to enforce the tariffs until the US trade deficit is overcome. Trump has also said that the tariffs will help relocate essential industries to the US.

Only three days ago, the PSX had hit its all-time record of 119,000 points.