Erdogan's Escalating Feud With U.S. Hammers Turkish Markets
- Tit-for-tat visa ban follows arrest of U.S. worker over coup
- Divisions between NATO allies deepen over Syria, Russia, Iran
Turkish Lira Plunges to a Record Low
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Markets in Istanbul tumbled after the U.S. and Turkey stopped issuing visas for each other’s citizens in a spat related to last year’s failed coup against President Recep Tayyip Erdogan, deepening divisions between NATO members already at odds over the war in Syria.
The Trump administration halted visa services for Turks on Sunday, citing the Oct. 4 arrest of a Turkish citizen employed at the U.S. consulate in Istanbul for alleged involvement in the July 2016 putsch attempt. Erdogan’s government responded in kind within hours, repeating verbatim much of the U.S. statement.