Stock Market in Bangladesh Falls 6.7% Causing Riots
The stock market of Bangladesh recently fell 552 points or 6.72%. The sudden fall caused hundreds of furious investors to take to the streets to riot against the dramatic decline. The rioters in Bangladesh were so vexed that they threw bricks at police and marched in the streets while shouting slogans. In addition to the street marches, the investors also protested via a sit in at the SEC building.
The rioters largely consisted of momo investors, which refers to those investors that go for short term trades while taking on plenty of risks. The chaos over the Bangladesh stock market is largely due to the recent interest of small scale or retail investors in trading stocks. Investing in stocks had been more favorable than bank deposits and savings because of its higher returns.