🚨 Turkey’s Central Bank rolled out emergency measures on Wednesday to stabilize markets as nationwide protests against the detention of Istanbul Mayor Ekrem Imamoglu intensified. The turmoil has rattled investors, with the Turkish lira crashing to a historic low of 42 against the U.S. dollar.
Why the Panic?
Protests erupted after Imamoglu—President Erdogan’s key rival—was jailed on corruption charges, sparking fears of political instability. His party, the CHP, recently endorsed him as their presidential candidate for 2028, escalating tensions.
Market Meltdown
📍 The BIST 100 stock index plummeted 6.8% in a single day, triggering a trading halt. 📉 Government borrowing costs hit a 10-year high. Analysts warn the crisis could worsen if protests continue.
Central Bank’s Lifelines
The bank eased buy-backs and restricted short-selling to curb volatility. But with protests entering day five, uncertainty looms. 💼 'Markets hate instability,' said one trader. 'This could take weeks to recover.'
As Turkey braces for more unrest, global investors are watching closely. 🌍 Will Erdogan’s government regain control—or is this just the beginning?
