Istanbul Stock Exchange announced interruption of his work – for the first time since 1999 – until next Tuesday due to market volatility after the deadly earthquake it hit her Turkey And Syria.

The stock exchange justified its decision today, citing “increased volatility and large price fluctuations following the devastating earthquake.”

He recorded significant losses before deciding to suspend trading this morning.

“Given the low volume of trading, which does not allow effective price determination, all trades that took place on February 8, 2023 will be canceled,” the exchange explained in the afternoon, specifying that it will ultimately remain closed until February 14.

The last time the Istanbul Stock Exchange was closed was after the 1999 earthquake that killed over 17,000 people.

Politicians called for the cancellation of all transactions in the stock market that took place after the earthquake on Monday.

“It is not enough to close (the stock market). The transactions that took place on the Istanbul Stock Exchange after the earthquake should be canceled,” MP Murat Bakan, a member of the main opposition party, said.

“So it’s about protecting the rights of the 500,000 micro-investors who are under the rubble, who are dead or waiting for help and who don’t have internet access,” he tweeted.

Source: RES-IPE