Tehran Stock Market Correction Lingers

Tehran stocks fell amid relentless selloff in a wide range of equities on Tuesday, driving the benchmark to retreat further from recent record highs.
The main gauge of Tehran Stock Exchange, TEDPIX, fell more than 2%, dropping 6,439 to 314,469. 
Over 200 shares were hit by the selloff, causing the prices of 95% of symbols to retreat from the maximum.  
The selloff started in bank stocks from the early hours of trading day that was extended to a large number of other stocks during the trading session.  
Analysts say the market has long been susceptible for a correction phase after consecutive rallies in recent weeks.