TSE Has Its Worst Day in Nine Months

Tehran stocks slumped on Monday under unrelenting panic selling in almost all shares as nervous investors’ struggled to sell fearing that a lingering sell-off may wipe off all previous gains.
The benchmark of Tehran Stock Exchange, TEDPIX, shed 49,409 points losing 3.14%, retreating back from its recent high to 1,523,997.
This was the TSE’s biggest daily loss in nearly nine months, according to data compiled by Eqtesad News website.  
Observers say the share market was prone to a correction after consecutive rallies in the past two and a half months.  The downturn was triggered by the decline in foreign exchange rates, which almost always impact the share market.