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BREAKING: Istanbul bourse main index drops seven per cent, slings business
The World Health Organization’s senior emergency officer for Europe, Catherine Smallwood, has said that the death toll could rise to more than 20,000 people.
Turkey’s Borsa Istanbul has suspended trading on its equity and derivatives markets.
The stock market operator disclosed this in a statement after two market-wide circuit breakers could not stop a slide in the main index, which resulted in a fall of seven per cent within the first hour of trading.
However, it was not disclosed when trade would reopen.
It said, “Trading in Equity Market and Single Stock & Index Futures and Options Contracts in the Derivatives Market has been suspended.”
The first market-wide circuit breaker was released within minutes of opening on Wednesday after the benchmark index (.XU100) dropped five per cent, following a catastrophic earthquake in the country on Monday.
The benchmark BIST-100 index opened down 0.52% and was suspended at 7.09% down, while the banking sub-index (.XBANK) was down 6.03% as trading was suspended.
The PUNCH reports a magnitude 7.8 quake killed over 5,000 people across Turkey and Syria on Monday as Turkey’s President, Recep Erdogan declared seven days of national mourning for the victims of the earthquakes.
The World Health Organization’s senior emergency officer for Europe, Catherine Smallwood, has said that the death toll could rise to more than 20,000 people.
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