{"id":525,"date":"2023-02-08T13:02:01","date_gmt":"2023-02-08T18:02:01","guid":{"rendered":"https:\/\/embarrdowns.com\/borsa-istanbul-suspends-trading-following-devastating-earthquakes\/"},"modified":"2023-02-08T13:02:02","modified_gmt":"2023-02-08T18:02:02","slug":"borsa-istanbul-suspends-trading-following-devastating-earthquakes","status":"publish","type":"post","link":"https:\/\/embarrdowns.com\/borsa-istanbul-suspends-trading-following-devastating-earthquakes\/","title":{"rendered":"Borsa Istanbul Suspends Trading Following Devastating Earthquakes"},"content":{"rendered":"

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\u2019s southeastern region on Monday.[0]<\/a><\/sup> 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]<\/a><\/sup> The suspension comes after the BIST 100 index dropped 11% in five days, bringing losses for the year so far to 24%.<\/p>\n

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

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]<\/a><\/sup> 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]<\/a><\/sup> <\/p>\n

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.<\/p>\n

0. <\/span>“Turkish stock exchange temporarily halts trading in wake of deadly quakes” TRT World, 8 Feb. 2023, https:\/\/www.trtworld.com\/business\/turkish-stock-exchange-temporarily-halts-trading-in-wake-of-deadly-quakes-65289<\/a><\/a><\/p>\n

1. <\/span>“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, https:\/\/www.businessinsider.in\/stock-market\/news\/earthquake-hit-turkeys-stock-exchange-halts-trading-as-a-deepening-selloff-knocks-35-billion-off-its-key-index\/articleshow\/97737472.cms<\/a><\/a><\/p>\n

2. <\/span>“Turkey’s stock market halted after earthquake leads to sharp selloff” Channel3000.com – WISC-TV3, 8 Feb. 2023, https:\/\/www.channel3000.com\/news\/money\/turkeys-stock-market-halted-after-earthquake-leads-to-sharp-selloff\/article_5cbc10df-28e5-59ea-95f9-1b2ddbca7d92.html<\/a><\/a><\/p>\n

3. <\/span>“Turkey ETF tumbles and lira slumps to record low after major earthquake adds to economic woes” msnNOW, 6 Feb. 2023, https:\/\/www.msn.com\/en-us\/money\/markets\/turkey-etf-tumbles-and-lira-slumps-to-record-low-after-major-earthquake-adds-to-economic-woes\/ar-AA17aIpf<\/a><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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\u2019s southeastern region on Monday.[0]<\/a><\/sup> 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]<\/a><\/sup> The suspension comes after the BIST 100 index dropped 11% in five days, bringing losses for the year so far to 24%.<\/p>\n

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

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]<\/a><\/sup> 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]<\/a><\/sup> <\/p>\n

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.<\/p>\n

0. <\/span>“Turkish stock exchange temporarily halts trading in wake of deadly quakes” TRT World, 8 Feb. 2023, https:\/\/www.trtworld.com\/business\/turkish-stock-exchange-temporarily-halts-trading-in-wake-of-deadly-quakes-65289<\/a><\/a><\/p>\n

1. <\/span>“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, https:\/\/www.businessinsider.in\/stock-market\/news\/earthquake-hit-turkeys-stock-exchange-halts-trading-as-a-deepening-selloff-knocks-35-billion-off-its-key-index\/articleshow\/97737472.cms<\/a><\/a><\/p>\n

2. <\/span>“Turkey’s stock market halted after earthquake leads to sharp selloff” Channel3000.com – WISC-TV3, 8 Feb. 2023, https:\/\/www.channel3000.com\/news\/money\/turkeys-stock-market-halted-after-earthquake-leads-to-sharp-selloff\/article_5cbc10df-28e5-59ea-95f9-1b2ddbca7d92.html<\/a><\/a><\/p>\n

3. <\/span>“Turkey ETF tumbles and lira slumps to record low after major earthquake adds to economic woes” msnNOW, 6 Feb. 2023, https:\/\/www.msn.com\/en-us\/money\/markets\/turkey-etf-tumbles-and-lira-slumps-to-record-low-after-major-earthquake-adds-to-economic-woes\/ar-AA17aIpf<\/a><\/a><\/p>\n","protected":false},"author":3,"featured_media":524,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"_links":{"self":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/525"}],"collection":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/comments?post=525"}],"version-history":[{"count":0,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/525\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media\/524"}],"wp:attachment":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media?parent=525"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/categories?post=525"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/tags?post=525"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}