Turkish stocks tumbled, extending their 2023 slump, as panic selling deepened among local investors, triggering market-wide circuit breakers for a second time this year.
The Borsa Istanbul 100 Index fell 5.2%, closing at the lowest level since Nov. 21. The benchmark has plunged 16% since hitting a record last week and is by far the worst-performing equity gauge so far this year. Shares of Turkish Airlines — last year’s best-performing stock — and lender Akbank have led declines in 2023, falling 11% and 18%, respectively.
