TEHRAN, Iran, Sep. 30
Trend:
Continuing the downward trend, Thran Stock Exchange experienced a drop of more than 32,000 points on Tuesday to 1.4 million points.
It is not clear whether the decline in the stock market will continue in the coming days and weeks.
Nonetheless, small investors trying to make money in a depressed economy have poured more than forty trillion rials (approximately $950 million) in the stock market this year. Therefore, a sharp decline could hurt many ordinary people.
Since the beginning of the new Iranian calendar year, the country's national currency, the rial, has lost more than 40% of its value against foreign currencies. At the same time, due to the housing crisis and the industrial sector's recession, many Iranians have rushed to the stock market.