Borsa Istanbul Suspends Trading Following Devastating Earthquakes

Borsa Istanbul, the Turkish stock exchange, has suspended trading of equities, futures and options after a sharp selloff triggered by two devastating earthquakes that hit the country’s southeastern region on Monday.[0] The benchmark BIST-100 index opened down 0.52%, and was suspended at 7.09% down, while the banking sub-index was down 6.03%.[0] The suspension comes after the BIST 100 index dropped 11% in five days, bringing losses for the year so far to 24%.

The iShares MSCI Turkey ETF, which tracks several dozen Turkish equities, slumped 2.4% on Monday and 6.4% in early trading Wednesday.[1] Overall, the stock market has sunk 15% in the three days since the earthquake, adding further pain to an already fragile economy.[2]

The quake, which was the strongest to hit Turkey since 1939, had a magnitude of 7.8 and has killed more than 9,500 people so far.[3] It triggered circuit breakers that forced trading to halt twice on Tuesday, and the exchange has declared it will momentarily stop trading for a period of five business days.[1]

This suspension of trading marks a significant event in the country, and serves as a reminder of the impact of natural disasters on markets and economies.

0. “Turkish stock exchange temporarily halts trading in wake of deadly quakes” TRT World, 8 Feb. 2023,

1. “Earthquake-hit Turkey’s stock exchange halts trading as a deepening selloff knocks $35 billion off its key ind” Business Insider India, 8 Feb. 2023,

2. “Turkey’s stock market halted after earthquake leads to sharp selloff” – WISC-TV3, 8 Feb. 2023,

3. “Turkey ETF tumbles and lira slumps to record low after major earthquake adds to economic woes” msnNOW, 6 Feb. 2023,