Stock market crashes after CHP decision

The CHP Istanbul Provincial Congress was cancelled, the administration was dismissed and a trustee was appointed.

The stock market, which had previously crashed during the operation targeting İmamoğlu on March 19, plummeted again. Following the decision, the Borsa Istanbul lost 5 percent, while the banking index fell more than 7 percent.

Due to the decline, the upward step rule will be applied in short selling transactions until the end of the session.

UP STEP RULE

Under the uptick rule, short selling can only be done when the stock price rises.

WHAT IS SHORT SELLING?

Short selling, on the other hand, is the process of borrowing shares of a stock that an investor doesn't own and selling them, then buying them back if the price drops for a profit. However, this rule is in place to limit short selling, which can accelerate price declines.

Source: News Center