Turkey's stock market just posted its 6th straight weekly loss, the longest losing streak since February 2008
The BIST 100 fell 5.16% this week to 11,117 and is now down about 23% since September 11Friday it dropped as much as 4.6% intraday to its lowest level in about 11 monthsTurkish stocks have lost about ₺6 trillion ($120 billion) in market value since mid SeptemberThe trigger was a fund crisis. Regulators ordered 131 investment funds holding ₺936 billion ($19 billion) into liquidation, hitting more than 455,000 investorsAnd the selling kept going even after Turkey's central bank cut rates by 100 bps to 36% on ThursdayWhen a rate cut can't stop a 6 week slide, the problem is trust, not rates. $TUR holders should watch whether repayments to trapped fund investors actually landSource: StockMarket.News
