Tehran Stocks Reverse Course to End Lower

While in positive territory in the early hours of trading,  the main gauge of the Tehran Stock Exchange reversed course in mid-day trading, causing the TEDPIX to shed more than 1,000 points on Tuesday. 
It seems the market responded to negative signals from developments both at the domestic and international fronts, according to the Donyaye Bourse website. 
The market partly reacted to fears spawned from unofficial reports that the government may eliminate allocation of subsidized currency for importing basic goods and pharmaceuticals.
Despite mounting pressure on the government to scrap the policy, the government insists on staying put over fears that removing subsidized forex may push up prices of essential goods and medicine and lead to frustration among the people, especially those at the lower end of the economic ladder.