Turkey suspends trading in stock market after main index falls sharp

Last updated: 9th February 2023 2:27 am

1 Min Read

İLLÜSTRASYON - Borsada düşüş, para piyasaları, zarar eden şirket.(Westlight/Imago - Depo Photos)

Turkey’s Borsa Istanbul suspended trading on its equity and derivatives markets on Wednesday, following the main index has dropped seven percent within the first hour of trading, amid a devastating earthquake.

The move came after two market-wide circuit breakers failed to stop the slide, Reuters reported.

“Trading in Equity Market and Single Stock & Index Futures and Options Contracts in the Derivatives Market has been suspended,” Borsa Istanbul said in a statement.

Bloomberg announced the suspension as the first market-wide suspension of trading in Istanbul since 1999.

The losses came amid a devastating earthquake that hit the country’s Southwest on Monday, that so far has claimed over 7,000 lives.

Source: Gerçek News

Share This Article

By News About Turkey - NAT

Follow:

Founded by a small group of Turkish/Kurdish scholars who have been subjected to persecution at the hands of the Erdogan dictatorship, News About Turkey (NAT) has emerged as a platform that is both exceptional and invaluable. Our objective is to provide you with a comprehensive and sophisticated understanding of the events and developments in Turkey (Türkiye), a country with profound historical and geopolitical importance, a vibrant culture, and a strategic location. Our founders, who have been purged by the Erdogan regime after the so-called coup attempt, are aware of the significance of journalism that is both free and independent. Because of this understanding, we are committed to providing reporting and analysis that is both objective and comprehensive. To give you the most thorough coverage of Turkey, we go further than just scratching the surface. Keep in touch with us so that you can have a better understanding of Turkey's developing story as well as vital and comprehensive news items. Whether you are a resident of Turkey, a member of the Turkish/Kurdish diaspora, or simply someone who has a strong interest in this vital country, we are the most reliable source for news that not only informs but also inspires and engages you.