Sri Lanka halts stock trading twice amid mounting economic crisis

The stock exchange suspended trading for 30 minutes twice, first when the gauge fell 5%, then when it declined to more than 7.5%

Sri Lanka’s stock market trading was halted twice on Wednesday after a gauge of blue-chip shares tumbled more than 8 per cent, highlighting the mounting economic crisis prompted by a shortage of dollars and surging inflation. 

The benchmark Colombo All Share Index settled 2.7 per cent lower at 11,285.37 after a slide in a measure of the nation’s top 20 stocks by market capitalisation triggered a circuit breaker. The stock exchange suspended trading for 30 minutes twice, first when the gauge fell 5 per cent, then when it declined to more than 7.5 per cent.

“Macro-worries are increasing. There are margin calls