"Illiquid markets" refer to a situation where there are not many buyers and sellers for a particular asset. This makes it difficult to quickly buy or sell that asset at a fair price. Full definition
This is normal, because in illiquid markets where there is a lot of credit risks, there are few trades, and when things go bad, prices shift dramatically lower. (alephblog.com)
International investments involve additional risks, which include differences in financial standards, currency fluctuations, geopolitical risk, foreign taxes, and regulations, and the potential for illiquid markets. (schwabfunds.com)
Traders said relatively illiquid markets because of holidays across much of Europe and parts of Asia had exacerbated moves on Tuesday. (cnbc.com)