As of February 9, the strong earthquake that occurred in southern Turkey has killed more than 20,000 people in Turkey and Syria, surpassing the 18,500 people killed in Japan's "3.11" magnitude 9 earthquake in 2011.


Local experts predict that up to 200,000 people may still be buried under the collapsed buildings, making it difficult to estimate the final scale of casualties. According to estimates by the international rating agency Fitch, the economic losses caused by the strong earthquake may be as high as US$4 billion, and the amount of losses may still increase.


The US "Wall Street Journal" website published an article titled "Turkey's Financial Market Shakes as Economic Losses from Earthquake Mount" on February 8. The report pointed out that the earthquake in Turkey this week shook the local financial market and triggered There are concerns about the country's fragile economy.


Turkish stock market officials announced on the 8th that trading will be suspended for 5 days until the evening of February 14. The benchmark Istanbul Stock Exchange 100 index has fallen 16 percent this week, with nearly half of that loss occurring early on Monday, before trading was halted.

Economists and investors say rebuilding costs could be in the tens or even hundreds of billions of dollars, but they caution that it is too early to give an exact figure.


Turkish economist Mustafa Semez said Turkey's exports would be affected because areas affected by the quake produced goods for export. He also said foreign investors may demand higher premiums for higher investment risks, which could fuel inflation.


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