Despite the uptick in violence, including cross-border shelling, both sides appeared to be calibrating their moves to avoid a descent into full-blown conflict.

Rapidly deteriorating relations between India and Pakistan over a deadly shooting in Kashmir are starting to have small but prickly economic consequences for both nations.

New Delhi controls around 172 nuclear weapons, according to the Arms Control Association. Pakistan has approximately 170 nuclear warheads. India and Pakistan, two nuclear-armed nations, saw a decades-old conflict reignite May 7 as a terror attack in the disputed region of Kashmir led India to carry out cross-border airstrikes.