Turkey’s stock market fell more than 6% Monday and the lira also came under pressure after presidential elections in the NATO member looked like delivering no clear outcome.
This... Turkey’s stock market fell more than 6% Monday and the lira also came under pressure after presidential elections in the NATO member looked like delivering no clear outcome. The BIST index XU100 fell 6.4% before being halted for volatility. The benchmark is up 88% in domestic currency terms over the past 12 months as local investors have looked to the stock market to generate returns as high inflation — which rose above 80% in October last year — created a severe cost of living crisis.
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