Turkish Lira Hits Record Low as Political Turmoil Intensifies
The Turkish lira hit a record low amid rising political turmoil, with markets reacting to Imamoglu’s detention and further central bank rate cuts.
U.S. financial markets saw significant declines, with the S&P 500 falling 1.4%, the Dow Jones dropping 380 points, and the Nasdaq losing around 2%, extending losses from the previous week.
Investor concerns over the U.S. economic outlook continue to grow, as uncertainty surrounding trade policy weighs on sentiment.
President Trump acknowledged the potential for an economic slowdown but framed the current conditions as a "period of transition" following recent tariff policy adjustments.
