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Turkish Stocks, Lira Sink as Showdown With Russia in Syria Escalates

  • Borsa Istanbul posts biggest intraday drop since June 2013
  • Airstrike in Syria killed at least 33 Turkish troops Thursday
Smoke rises above the town of Saraqib in Idlib province, Syria, on Feb. 27.

Smoke rises above the town of Saraqib in Idlib province, Syria, on Feb. 27.

Photographer: Omar Haj Kadour/AFP via Getty Images

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Turkish stocks and bonds plunged as tensions between Ankara and Moscow soared while the spreading coronavirus sparked a global exodus from riskier assets. Authorities stepped up their interventions to slow the lira’s slide and banned short-selling in equities.