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The Guardian - UK
The Guardian - UK
Business
Phillip Inman

Istanbul stock market shuts to prevent selloff after earthquake

A bell in Borsa Istanbul, Turkey's stock market
Turkey's Borsa Istanbul was shut on Wednesday morning after market-wide circuit breakers had twice halted trading. Photograph: Anadolu Agency/Getty Images

Turkey’s stock exchange closed this morning for the first time in 24 years to prevent a $35bn (£29bn) selloff this week from turning into a rout.

The move followed a panic among foreign investors in the wake of the massive death toll and at least $1bn worth of damage to buildings from the strongest earthquake to hit the country in the past 100 years.

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