TEHRAN (Iran News) –A member of the executive council of the Securities and Exchange Organization of Iran said the stock exchange market has been shut down following the martyrdom of President Raisi and his entourage.

Minister of Youth Affairs and Sports Kiomars Hashemi has also ordered the cancellation of all sports games and competitions in the current week.

A helicopter carrying President Raisi and his entourage crashed on Sunday when they were returning from Khoda Afarin region in Iran’s northwestern province of East Azarbaijan after inaugurating a dam at the common border with the Republic of Azerbaijan.

The crash killed the president, Foreign Minister Amirabdollahian, Friday prayers leader of Tabriz Ayatollah Mohammad Ali Al-e-Hashem, Governor of East Azarbaijan Malek Rahmati, and members of the president’s security team and the crew.

A large-scale search and rescue operation to locate the doomed aircraft was launched on Sunday evening.

The wreckage of the helicopter was found on Monday morning in a remote mountainous area in the Arasbaran forests.