Istanbul bourse suspends trading after main index drops 7pc
Business
The stock market operator did not say when trade would resume
REUTERS - Turkey's Borsa Istanbul suspended trading on its equity and derivatives markets after two market-wide circuit breakers failed to stop a slide in the main index, which fell 7% within the first hour of trading.
"Trading in Equity Market and Single Stock & Index Futures and Options Contracts in the Derivatives Market has been suspended," it said in a statement.
The stock market operator did not say when trade would resume.
The first market-wide circuit breaker was issued within minutes of opening on Wednesday after the benchmark index (.XU100) dropped 5%, continuing losses after a devastating earthquake in the south of 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 death toll of Monday's earthquakes in Turkey rose to 7,108 on Wednesday morning, the Disaster Management Authority (AFAD) said.
