Turkey suspends trading in stock market after main index falls sharp
Two market-wide circuit breakers failed to stop the fall
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.