The Colombo stock market lost a staggering Rs. 84 billion in value within seconds yesterday as it opened after one-and-a-half months of shutdown with investors apparently in panic selling mode influenced by severe impact on the economy from the COVID-19 pandemic and other shocks, Daily FT Newspaper reported.
It just took 38 seconds after opening for the active S&P SL20 Index to crash by 10%, a level (circuit breaker) which now requires the closure of the market immediately as per a new directive by the regulator the Securities and Exchange Commission (SEC).
Read the full article in Daily FT Newspaper ?
