Trading on the Istanbul inventory market was suspended for a second time on Monday after vital losses triggered a market-wide circuit breaker, as issues a few potential U.S. recession shook world monetary markets.
The second circuit breaker was issued at 0725 GMT, with Borsa Istanbul Stock Exchange’s benchmark BIST 100 index down 7.07% and the banking index down 8.73%.
The inventory market mentioned buying and selling was attributable to resume at 0755 GMT.
Stock markets tumbled on Monday as fears the United States could possibly be heading for recession despatched buyers speeding from danger whereas wagering that rapid-fire price cuts might be wanted to rescue progress.
The Turkish lira weakened to a file low of 33.38 towards the U.S. greenback at 0741 GMT, after closing at 33.2450 on Friday.
Source: www.dailysabah.com