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Turkey halts stock market trading after $35-billion wipeout in earthquakes' aftermath

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Turkey’s stock exchange suspended trading for the first time in 24 years after a selloff in the wake of two devastating earthquakes. Read on

“At times of catastrophes like this, suspending trading in the stock market is a better decision in order to protect investors,” said Haydar Acun, managing partner of Marmara Capital in Istanbul. Investing in equities is popular among locals as a hedge against the country’s rampant inflation, which surged to a high of around 86 per cent in 2022.Article content

“The current panic and pessimistic mode may have also increased risks for traders as it clouds rational thinking. It’s late, but still the right decision to take,” said Mehmet Gerz, chief investment officer at Istanbul-based Ata Portfoy.

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