Türkiye is in the spotlight as its markets face a dramatic rout amid widespread protests and intense political rivalry. The central bank has rolled out a series of measures — including a curb on short-selling and easing share buy-backs — to steady Turkish equities and calm investor fears.
The tension escalated after Istanbul mayor Ekrem Imamoglu, seen as President Recep Tayyip Erdogan's main political rival, was detained on corruption charges. The move has stirred controversy nationwide and sent shockwaves through international markets.
Investor anxiety was immediate: the Turkish lira plunged by over 10 percent, hitting a new low of 42 to the U.S. dollar, while long-term government borrowing costs hit their highest level in more than a decade. The BIST 100 index, Istanbul's primary market benchmark, experienced its largest one-day drop in three years at 6.8 percent, prompting a temporary halt in trading.
This unfolding saga has sparked spirited debates among young investors and activists alike, blending high-stakes politics with economic uncertainty. As Türkiye navigates these choppy waters, all eyes remain fixed on the next policy moves to steer the economy back on track. Stay tuned as this real-life drama continues to unfold! 🚀💥
Reference(s):
Türkiye battles to stop market rout as protests over mayor continues
cgtn.com
