(Bloomberg) --

Turkey’s stock exchange suspended trading for the first time in 24 years following a selloff that erased billions of dollars from the value of its main equities gauge in the wake of two devastating earthquakes.

Borsa Istanbul also canceled all trades made on Wednesday, it said in a statement, citing low volumes and “unhealthy” price formation. 

Trading in Turkish equities, futures and option contracts will resume on February 15. 

Turkish stocks, which are this year’s worst performers globally, entered a technical bear market on Tuesday after falling more than 20% from their January high.

Turkey Halts Stock Market Trading After $35 Billion Wipeout (1)

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