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Turkish Stocks Tumble Most in World as Downed Jet Heightens Risk

Lira is worst performer in emerging markets, credit risk rises
Stocks tumble most in five months as Putin warns about ties

Bloomberg business news — Putin: Won't Tolerate Crimes Such As Warplane Crash

By

Tugce Ozsoy and

Constantine Courcoulas

November 24, 2015, 9:04 AM UTCUpdated onNovember 24, 2015, 3:52 PM UTC

Turkish stocks fell the most worldwide and the lira led emerging-market currencies lower as the downing of a Russian jet in Syria threatened to escalate tension between the two nations.

Russian President Vladimir Putin warned of “very serious consequences” for relations after Turkey said its military shot down a Russian warplane that violated its airspace near the border with northwestern Syria. The action is the first time in decades that a North Atlantic Treaty Organization member has downed a Russian military aircraft.