The Istanbul Stock Exchange announced on Wednesday its closure until Tuesday, due to market volatility after the earthquake that shook Turkey and Syria on Monday and caused at least 12,000 deaths.
The stock market, which closes for the first time since 1999, justified today’s decision with “increasing volatility and extraordinary price fluctuations after the catastrophic earthquake.”
The 7.8 magnitude quake, followed by several aftershocks, devastated southeastern Turkey and northern Syria.
The market was posting heavy losses before deciding to stop trading this morning.
“Given the low volume of transactions that does not allow effective pricing, all operations carried out during the market suspension on February 8, 2023 will be cancelled,” the stock market said in the afternoon, explaining that the closing It will last until Tuesday. including the fair.
The last time the Istanbul Stock Exchange closed was after the 1999 earthquake, which claimed more than 17,000 lives.
Source: TSF
