It depends on oil — not emotion.
The only real economic transmission channel from the Iran conflict to Pakistan is energy pricing.
A 10% oil rise sustained for 12 months implies under $2 billion additional burden. That does not justify systemic equity collapse.
What causes crashes is leverage and panic — not arithmetic.
Four Sellers in a Geopolitical Shock
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Leveraged investors forced to unwind.
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Panic sellers imagining worst-case collapse.
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Opportunistic traders attempting 10–30% swings.
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Fundamentalists stress-testing oil at $100+.
History shows the first two lose the most.
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