Iceland today suspended trading on its stock exchange for the third consecutive trading day, citing “unusual market conditions”.
The decision follows a turbulent week with the government taking control of the country’s three major banks.
Nasdaq OMX Iceland said equity trading will resume tomorrow. The exchange’s fixed income market remains open for trading.
Iceland has been particularly hard hit by the global credit squeeze because of its heavyweight banking sector.
Its troubles are also having repercussions elsewhere in Europe where tens of thousands of private savers have accounts worth millions of euro with branches or subsidiaries of those banks.