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| Version 1 | Version 2 |
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| Turkish stock market suspends trading | Turkish stock market suspends trading |
| (about 2 hours later) | |
| The decision followed a deep sell-off in the aftermath of devastating earthquakes in the south of the country | The decision followed a deep sell-off in the aftermath of devastating earthquakes in the south of the country |
| Türkiye’s stock exchange announced on Wednesday it was suspending equity trading for the first time in 24 years, following a market rout triggered by two massive earthquakes. | Türkiye’s stock exchange announced on Wednesday it was suspending equity trading for the first time in 24 years, following a market rout triggered by two massive earthquakes. |
| The benchmark Borsa Istanbul 100 Index (BIST 100) was suspended after a 7.09% drop during early trading. | The benchmark Borsa Istanbul 100 Index (BIST 100) was suspended after a 7.09% drop during early trading. |
| The index, which entered bear-market territory on Tuesday, is headed for its worst weekly performance since the 2008 global financial crisis. Meanwhile, the banking sub-index (.XBANK) declined 6.03% as trading was halted. | The index, which entered bear-market territory on Tuesday, is headed for its worst weekly performance since the 2008 global financial crisis. Meanwhile, the banking sub-index (.XBANK) declined 6.03% as trading was halted. |
| “Our stock exchange has decided to halt trading in equities, futures, and options markets,” Borsa Istanbul said in a statement after two market-wide circuit breakers failed to stop a slide in the main index. The stock market operator did not announce when trading would resume. | “Our stock exchange has decided to halt trading in equities, futures, and options markets,” Borsa Istanbul said in a statement after two market-wide circuit breakers failed to stop a slide in the main index. The stock market operator did not announce when trading would resume. |
| “At times of catastrophes like this, suspending trading in the stock market is a better decision in order to protect investors,” Marmara Capital’s Haydar Acun told Bloomberg. | “At times of catastrophes like this, suspending trading in the stock market is a better decision in order to protect investors,” Marmara Capital’s Haydar Acun told Bloomberg. |
| A 7.8-magnitude earthquake wreaked havoc across southern Türkiye and northern Syria on Monday, and was followed by dozens of aftershocks and a second quake on a nearby fault line, which caused further destruction. Many buildings collapsed, killing thousands of people and trapping many others under rubble. | A 7.8-magnitude earthquake wreaked havoc across southern Türkiye and northern Syria on Monday, and was followed by dozens of aftershocks and a second quake on a nearby fault line, which caused further destruction. Many buildings collapsed, killing thousands of people and trapping many others under rubble. |
| Turkish President Recep Tayyip Erdogan has declared a seven-day period of mourning for victims of the disaster, which he called the worst since the 1939 Erzincan earthquake. Erdogan has also declared a state of emergency in the ten regions most affected, which will be in place for at least three months. | Turkish President Recep Tayyip Erdogan has declared a seven-day period of mourning for victims of the disaster, which he called the worst since the 1939 Erzincan earthquake. Erdogan has also declared a state of emergency in the ten regions most affected, which will be in place for at least three months. |
| The combined death toll in Türkiye and Syria has exceeded 10,000, and is expected to rise as rescue work continues. | |
| For more stories on economy & finance visit RT's business section | For more stories on economy & finance visit RT's business section |