Stocks in Tehran Down 3.2%

Extending earlier session’s loss, the Tehran Stock Exchange fell 3.16% on Tuesday and its benchmark, TEDPIX, lost 65,261 points to retreat to the critical 2 million points reached on August 2. 
The downturn is linked to the government’s abrupt decision to cancel previously announced plans to offer its shares in four refineries via an exchange-traded fund. 
The announcement created nervousness in the market and sparked massive sell-off in majority of ticker symbols because investors interpreted the move as a sign that the government may no longer support the bourse.