Turkish Stocks Extend Slide as Circuit Breakers Trigger Halt
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Turkish stocks extended their losses following Friday’s rout, prompting two automatic trading halts as local investors rushed out of the market after the lira’s slide to a record low exacerbated economic concerns.
The Borsa Istanbul 100 Index tumbled as much as 8.2% on Monday. The first market-wide circuit-breaker went into effect following a 5% drop and the second followed almost immediately after trading resumed. Equities restarted trading for the second time at 4:54 p.m. in Istanbul and bounced from lows.