France's stock exchange suspended after free fall
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HotNewsTurkey with wires
Oluşturulma Tarihi: Ekim 08, 2008 12:17
A spokeswoman for the Paris stock exchange says it has briefly suspended calculating the benchmark CAC-40 index amid a massive influx of sell orders that caused it to plummet nearly 8.2 percent on Wednesday, AP reported. (UPDATED)
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Orders passed a threshold of 35 percent of the total market value of the 40 blue-chip stocks that make up the index, triggering an automatic halt in the calculation under exchange rules, Frederique Vigezzi told AP.
Calculation of the index was suspended for about 15 minutes as operators of the Euronext Paris exchange worked to confirm the orders. Overall trading in the exchange was not suspended.
When the calculations resumed shortly before 11 a.m. (0900 GMT) on Wednesday, the index recovered some lost ground, and was down 5.5 percent to 3,526.78. It fell along with many other bourses in Asia and elsewhere in Europe.