Istanbul stock exchange stops trading first time since 1999 - Breaking The News

Istanbul stock exchange stops trading first time since 1999

8 February

1 min read

EPA-EFE/SEDAT SUNA

Turkish sole exchange entity the Borsa Istanbul suspended trading on Wednesday after the main index plummeted 7% in the first hour after the opening bell.

In a statement released on the Public Disclosure Platform (PDP), Borsa announced that "trading in Equity Market and Single Stock & Index Futures and Options Contracts in the Derivatives Market has been suspended," without specifying when it may resume. Later, Borsa Istanbul stated it will resume trading on February 15.

The decision was made after two market-wide circuit breakers failed to stop the index from plunging and it marks the first total halt of the exchange since 1999. Turkey and Syria are still counting the victims of a deadly earthquake that hit near the city of Gaziantep on Monday.

borsa istanbul stock exchange

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