Turkish Markets Tumble as Kurdish Leaders Detained in Raids
- Lira drops to record as police round up Kurdish lawmakers
- Bonds fall and stocks extend biggest decline worldwide
Turkish Police Roundup Kurdish Lawmakers
This article is for subscribers only.
Turkey’s lira plunged to a record and bonds fell with stocks after police rounded up pro-Kurdish opposition leaders, prompting investor concerns that an increasingly autocratic government is dismantling democracy in the country.
The currency dropped as much as 1.3 percent to 3.1504 per dollar and the yield on 10-year government bonds climbed to a more than five-month high. Turkish equities also fell the most in the world as police began detaining Kurdish lawmakers including co-chairs of the Peoples’ Democratic Party, known as the HDP, in post-midnight raids on Friday. An explosion in the largest city in Turkey’s southeast also rattled investors.